Posts filed under “Retail”
“In an email to The Huffington Post, an NRF spokeswoman called Ritholtz’s piece an “annual temper tantrum” that was “slanted, flawed and predictable,” and compared it to “such holiday traditions as the Grinch and the threat of coal in one’s stocking.” The NRF did not cite any inaccuracies in Ritholtz’s column, nor did it provide any substantive criticism of his views or mine.
The NRF noted it reached out to Ritholtz about his criticism of the survey last year, but that he did not respond.”
First, I love that the NRF is all pissy at me. That’s pretty awesome. (Speak to your colleagues at the NAR — they can share some stories with you).
Second, this has nothing to do with being a grinch. It is instead a criticism of an industry trade group that has consistently relied on a deeply flawed methodology to push a narrative that, while never in doubt, is
often always wrong.
Third, about that track record:
In sum, my “slanted, flawed and predictable” analysis is that NRF announcements are self-serving PR spin, wildly inaccurate, with no correlation to actual sales, that serve only to mislead investors, while whipping consumers into a frenzy of materialism.
Other than that, I have no beef with them . . .
Black Friday’s Guesswork Gloom (Dec 1, 2014)
Retailing’s Black Friday Hoax (Nov 26, 2014)
The New York Times headline declared, “Thanksgiving Weekend Sales, at Stores and Online, Slide 11 Percent.” Not to be outdone, the Wall Street Journal reported, “‘Black Friday’ Fades as Weekend Retail Sales Sink.” And — to prove I’m not playing favorites — Bloomberg News noted that, “Black Friday Fizzles With Consumers as Sales Tumble 11%.”…Read More
This is the time of year when Americans gather with family and friends to give thanks. A bounteous feast is the time to express gratitude for our good fortune. We count our blessings, humbled by the fortuity of our circumstances, grateful for whatever it is we have. Once you get that over with, it’s time…Read More
Forget August. The real silly season is upon us. As evidence I present the forecast of a 13 percent increase in holiday sales made by Forrester Research, as cited in the New York Times this morning. Color me skeptical. As we noted about this time last year, these sales projections are as much of an…Read More
It has been a confusing few weeks for followers of the retail sector. A mix of disappointing earnings (See Best Buy, J.C. Penny’s and Sears) along with pockets of luxury strength plus strongly trending auto sales has created a jumble. Let’s see if we can make some sense of the entire mess. Let’s start with…Read More