It’s Cinco de Mayo today, and retailers can expect a bump in spending as shoppers stock up on festive supplies. A new survey from research firm Numerator found that consumers who are celebrating plan to spend between $25 and $100, with the majority going to food and alcoholic beverages. Mother’s Day is also next Sunday, and the NRF expects spending to hit $34.1 billion this year, up from last year’s $33.5 billion but behind the record $35.7 billion in 2023.
“Mother’s Day is an important holiday for many consumers, only surpassed by the winter holidays in terms of average spending,” NRF VP of Industry and Consumer Insights Katherine Cullen said in a statement. “Even in the face of economic uncertainty, consumers continue to celebrate the special women in their lives with gifts and outings.”
Here’s what else is going on in retail this week:
In earnings: Another mixed batch of quarterly earnings are coming out this week, including Tyson Foods and Clorox on Monday and Shopify on Thursday. Here are some updates on the companies reporting:
- Tyson Foods just announced a deal to offload ownership of several of its cold storage warehouses to supply chain provider Lineage, while continuing to occupy those spaces as the anchor tenant.
- Clorox Australia was recently fined $5.19 million for falsely claiming that it was using recycled plastic in its garbage bags.
- The tech blog TestingCatalog recently reported that Shopify had allegedly embedded OpenAI’s ChatGPT in its checkout process. While the tie-up hasn’t been formally announced, it could have big implications for the role of AI in e-commerce.
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In webinars: BWG Connect is hosting a webinar to discuss how the tariff war with China is impacting CPG brands, with a focus on its ripple effects in pricing, supply chains, and what it calls “unauthorized reseller activity” or “gray market growth from price arbitrage.” The group will also share insights on how companies can navigate these headwinds and protect their brands.
In conferences: The NAMA Show is coming to Las Vegas this week Wednesday through Friday. The conference gives professionals in the self-service and unattended retail industry—otherwise known as convenience services—a chance to discuss the latest insights, technologies, and resources. If you haven’t heard of The National Automatic Merchandising Association (NAMA) before, it represents nearly 1,000 members, including the businesses behind kiosks, vending machines, pantries, micro markets, and other self-service options.
In reopenings: Big Lots will begin reopening stores this week for a total of 132 locations in the month of May. The discount chain’s new owners, Variety Wholesalers, started reopening select stores last month and is now kicking into full gear. The company is touting an expanded assortment and deals in categories such as apparel, home, kitchen, and pantry.