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IBISWorld: Valentine's Day will drive retail sales
LOS ANGELES — IBISWorld predicted Valentine's Day will boost retail sales in a new report.
The independent market and research firm said that consumers are expected to spend 5.8% more on Valentine’s Day purchases this year than last year, totaling $18.6 billion, or about $125 per person.
Big gains will be seen across all categories. Jewelry is expected to see an 11.3% boost, greeting cards and candy are projected to grow 4.9% and 5.1%, respectively, and clothing and lingerie should see a 3.4% rise.
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Many Americans believe private-label products are high quality
CHICAGO — It seems that private-label brands are getting a sterling reputation among shoppers.
According to new research by Mintel, consumers have taken notice of private-label companies' "better-for-you" products and attractive packaging, as 44% of grocery shoppers believe store-brand products are of better quality today than they were five years ago. What's more, 39% of respondents said they would recommend purchasing a store-brand product.