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Consumer spending reaches 11-month high
New York - The Deloitte Consumer Spending Index reached its highest point since November 2013, rising to 4.5 from 4 the prior month. The Index tracks consumer cash flow as an indicator of future consumer spending. The Index comprises four components – tax burden, initial unemployment claims, real wages and real home prices. Highlights include: Tax Burden: The tax rate has been effectively unchanged from the previous month at 11.8%.
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Return fraud will cost retailers $10.9 billion in 2014
Washington, D.C. – Apparently, a lot of fraud artists will get their names on the “naughty list” this year. According to the National Retail Federation (NRF) 2014 Return Fraud Survey completed by loss prevention executives at 60 retail companies representing grocery, department, discount, specialty and small retailers, the industry will lose an estimated $10.9 billion to return fraud this year.
