NEW PRODUCT
U
.S. retail sales will increase between 6.5 percent and
8.2 percent in 2021, the National Retail Federation
has forecasted, citing continued consumer
resilience and suggesting the economy's strongest
growth rate in two decades. The prognostication
is based on numerous trending data points and
the effectiveness of COVID-19 vaccines.
Jack Kleinhenz, the trade group's chief economist, cited
factors for optimistic forecast, most notably high stock prices
and home sales; low interest rates, consumer purchasing power
and federal government financial support to bolster spending
and the economy. Real GDP growth in 2021 is pegged at 4.5-5.0
percent, he said, with an acceleration in the second and third
quarters after a slower start to the year. According to one recent
study, U.S. consumers are preparing to spend 4.2 percent more
in 2021 than they did in 2020, which would represent the largest
increase in five years.
Online retail sales rose 22 percent to $970 billion in 2020, exceeding
a forecast of 12 percent growth, and are projected to gain 18-23
percent this year to $1.1-1.2 billion. n
Slippers in the new Sport Lounge line from Dearfoams feature uppers made from
responsibly sourced, partially-recycled materials. Pictured here is the Women's
Kendra Sport Lounge Clog Slipper, MSRP $34. With a cozy fleece footbed and
recycled poly materials used in the lining, the machine-washable slippers hit
on the current active comfort trend of being suitable for home or on the go
use. A memory foam insole adds extra comfort. n
U.S. Poised For Strongest Retail Growth Since 2004
Sporty
Sustainability
From
Dearfoams
FORECAST
NEW PRODUCT
footwearinsight.com March/April 2021 ~ Footwear Insight • 9
