Today in Retail: October Retail Sales Up 1.7%


In as we speak’s high retail information, retail gross sales grew for the third month in a row in October, whereas Walmart says its omnichannel method and infrastructure investments have ready it to fulfill buyer demand this vacation season. Additionally, Chase has partnered with supply platform Gopuff to supply rewards to customers, and an rising variety of individuals are contemplating gifting refurbished objects amid provide shortages.

October Retail Gross sales Beat Forecasts as Buyers Get a Bounce on the Holidays

U.S. retail and meals companies gross sales escalated final month to $638.2 billion, up 1.7% over the earlier month and beating economists’ forecasts, in accordance with knowledge launched by the Commerce Division. October marks the third month in a row retail that gross sales have elevated.

Walmart Provides Employees, Touts In-Inventory Reasonably priced Objects for Vacation Buying

Walmart stated its omnichannel method and investments in expertise lately have set the retailer as much as meet consumers’ wants this vacation season, with roughly 50,000 new provide chain staff added within the third quarter to maintain issues transferring within the coming weeks. Doug McMillon, president and CEO of Walmart Inc., stated positive factors in grocery and robust back-to-school gross sales outcomes point out that clients are persevering with to maneuver away from early pandemic behaviors, offering tailwinds for the retailer.

Chase Groups With Gopuff to Provide Supply Rewards

Chase has launched a partnership with the quick supply startup Gopuff, giving clients an opportunity to earn credit with every buy made by way of the supply platform. This system is open to Gopuff customers who use a Chase bank card as their default fee, and lets them obtain an automated $10 assertion credit score every month they make a purchase order with Gopuff, a possible worth of $120 a 12 months.

Refurbished Objects Might Assist Shoppers Fulfill Christmas Needs

Earlier this month, eBay expanded its refurbishment program to incorporate objects from top-rated sellers “who’re totally vetted to fulfill rigorous efficiency requirements” along with stock from high manufacturers. Objects offered by way of the eBay Refurbished program are available new packaging and can be found in 4 circumstances starting from reasonably used to love new.

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NEW PYMNTS DATA: THE 2021 HOLIDAY SHOPPING OUTLOOK

About: It’s nearly go time for the vacation purchasing season, and practically 90% of U.S. customers plan to make not less than a few of their purchases on-line — 13% greater than did in 2020. The 2021 Vacation Buying Outlook, PYMNTS surveyed greater than 3,600 customers to study what’s driving on-line gross sales this vacation season and the influence of product availability and personalised rewards on service provider desire.

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