Join retailers and the Minnesota Retailers Association as we discuss retail's legislative agenda and proposed policies for 2019. This is your opportunity to help shape MnRA policy positions.

Your Issues, Your Agenda: Retail Legislative Policy Summit

Wednesday, November 14, 2018

2:30 - 4:00 p.m.

MnRA Offices - St. Paul

Dial-in option available

This is a members-only event.

From the Retail Dive, Carla Salpini, October 26, 2018

It's a long list — and one that includes not just online and mobile shopping, but also in-store experiences and the ability to engage meaningfully with retailers on social.

Given its size and youth, Gen Z might well be the most coveted generation by retailers right now, now, regardless of how young they are and how much money they have to spend. Like a snow leopard hiding out in the Himalayan mountains, the generation is both elusive and searched for relentlessly — and for good reason.

Baby boomers are certainly still a key demographic for retailers, but Generation Z offers something perhaps more valuable than disposable income: a glimpse of what their future holds. It's all well and good to appeal to Baby boomers, Gen Xers and millennials, but at the end of the day, retailers want that golden stamp of approval that when Gen Z comes along, they'll still be able to stay in the black. 

The demographic's preferences have the potential to impact not only what shopping will look like (mobile, social, experiential, etc.), but also merchandising, the speed of supply chains and just about every aspect of retail that's worth considering. While reports have varied widely on how much spending the group actually commands, a report by Barkley estimates it's somewhere around $143 billion, based on estimates of $43 billion for Gen Zs relying on their allowance and $100 billion for those earning additional income.

Another study by CPC Strategy calls out Gen Z as a group that's actually planning to spend more this season (at least 21% of them are), but the same study notes that 66% of Gen Z is limited to a budget of less than $250.

Election day is tomorrow! Now is the time to remind employees of the importance of voting. For younger employees and those working their first job, this may be their first opportunity to go to their polling place. Support the retail vote and Minnesota's traditionally high voter turnout by encouraging your employees to vote.

The Minnesota Secretary of State hosts several resources to make it easy for first-time and long-time voters. As a first step, consider reminding your employees of their opportunity to vote and encourage them to do so!

Find voting information here!

Today Mn Retailers IMPACT announced the endorsement of these 12 candidates running for the State House of Representatives:

“Each endorsed candidate is a champion for Minnesota consumers, retailers, and our communities. They understand what the retail industry offers Minnesota’s economy and appreciate the 788,000 jobs that retailers support across the State,” said Mn Retailers IMPACT treasurer Bruce Nustad.

Mn Retailers IMPACT is funded through personal contributions used to support candidates who appreciate retailer contributions to Minnesota communities.

From the National Retail Federation, November 2, 2018

Retail industry employment in October remained essentially unchanged from September, dropping only 900 jobs despite the loss of 8,800 jobs year-over-year in the face of two major hurricanes since Labor Day, the National Retail Federation said today. The numbers exclude automobile dealers, gasoline stations and restaurants. Overall, U.S. businesses added 250,000 jobs in October – more than double September’s monthly gain – and hourly wages saw their strongest growth in nearly a decade, the Labor Department said.

"Today’s strong jobs report for the economy overall will certainly underscore consumer attitudes and should especially reinforce the spending outlook for the holidays,” NRF Chief Economist Jack Kleinhenz said. “Employment gains across the country are likely to remain strong with unemployment dipping even further. The dual effects of increased jobs and higher wages set in motion households’ ability and presumed willingness to spend.”

October’s retail job numbers followed a revised loss of 34,900 jobs in September from August attributed largely to the impact of Hurricane Florence. The three-month moving average as of October showed a decline of 10,000 jobs, skewed by both Florence and Hurricane Michael.

October saw monthly gains of 3,300 jobs at food and beverage stores, 2,100 at health product stores, 1,600 at furniture and home furnishing stores and 1,700 at general merchandise stores. There were losses of 6,100 jobs at sporting goods stores and 3,600 at miscellaneous stores.

Economy-wide, average hourly earnings in October were up 5 cents over September to $27.30 and up 83 cents from a year ago, a year-over-year increase of 3.1 percent and the first time since April 2009 that growth has topped 3 percent. The Labor Department said unemployment remained at 3.7 percent, its lowest level since December 1969.

The Minnesota Retailers Association (MnRA) was pleased to be recognize ten organizations leading the way in attracting consumers with the announcement of the 2018 Minnesota’s Retail Champions at Retail Rally October 9.

Watch the awards video now!