A season of gratitude and growth

As we celebrate Thanksgiving, the Washington Retail Association warmly thanks our members, retailers across the state, partners, stakeholders, and the community. Your dedication and resilience are the driving forces behind the vibrancy of Washington’s retail sector, a cornerstone of our state’s economy.

This weekend kicks off the busiest shopping season of the year, highlighting the strength of local businesses and the enduring spirit of our communities.

As we reflect on the past year, we’re deeply grateful for the privilege of advocating for our members, fostering impactful public-private partnerships, and providing resources to support your success. Together, we are building a strong and resilient retail ecosystem.

From all of us at WR, Happy Thanksgiving! May your holiday season be filled with warmth, joy, and meaningful connections.

IN THIS ISSUE

ON THE LOCAL FRONT

• Seattle Council approves 2025 budget, closing deficit without new taxes
• King County Executive Dow Constantine announces he will not seek reelection in 2025

POLICY

• WR 2025 legislative priorities
• Governor-Elect Bob Ferguson’s Chief lays out transition plans
• Paid Leave premium rate increase to 0.92% in 2025 due to high usage
• JLARC reviews Paid Family and Medical Leave Program
• VoterVoice sign-up: Be ready for the 2025 legislative session

RETAIL THEFT & PUBLIC SAFETY

• Washington State’s incoming administration declares support for the ORC Task Force
• Mayor Harrell announces creation of Downtown Activation Team
• Public safety overtakes homelessness as top concern for Seattle residents
• Crime and punishment: No consensus in Olympia
• Chef Ethan Stowell and his restaurant group are closing one of his Seattle restaurants
• Longtime downtown Seattle retailer to close Pacific Place store
• Congressman Adam Smith tours Macy’s at Southcenter Mall to address organized retail crime
• Add the ORC Resource Hub widget to your website and help combat organized retail crime

ECONOMY

• Washington faces $5.1 billion budget shortfall
• The business tax burden in Washington is above the national average
• Navigating West Coast rail congestion: Strategies for shippers

TRENDS

• Record number of hoppers expected over Thanksgiving weekend
• Holiday shopping to hit $125 billion in 2024
• NRF 2025: Retail’s Big Show – Shaping the future of retail

Seattle Council approves 2025 budget, closing deficit without new taxes

On November 21, the Seattle City Council approved a budget for 2025 by an 8-1 margin, eliminating a $250 million deficit in the City’s $2 billion general fund without new taxes.

Councilmember Cathy Moore introduced legislation this month to create a 2% capital gains tax on investment-sale profits above $262,000 a year. The capital gains tax failed on a 6-3 vote but it could receive additional consideration in 2025.

A shift of $287 million in JumpStart tax revenue from affordable housing programs to the general fund enabled the Council to close the deficit while adding spending on public safety. Previous Councils did similar reallocations of JumpStart revenues since its creation in 2021. Despite the shift of JumpStart revenues, the 2025 budget includes a record $340 million in spending on affordable housing, thanks for voter approval of the housing levy in 2023. The Council also authorized limited cuts to jobs and programs.

King County Executive Dow Constantine announces he will not seek reelection in 2025

King County Executive Dow Constantine, who has served since 2009, announced Tuesday evening that he will not seek reelection to a fifth term in 2025.

Reflecting on his 15 years in office, Constantine expressed his commitment to building a more just and thriving community for all King County residents. During his tenure, he focused on expanding access to opportunity, addressing systemic injustices, and advancing policies related to transit, climate, and housing. A Seattle native and fourth-generation Washingtonian, Constantine also served in the state House and Senate before his time as county executive.

As he prepares to step down, Constantine emphasized the importance of continued progress, particularly in behavioral health and housing. "King County must stay the course of progress," he stated, affirming his ongoing dedication to the region even after leaving office. Constantine's leadership has helped shape a better future for King County, and he leaves a lasting legacy of commitment to equity and community development.

Constantine’s departure will also impact Sound Transit after 2025. He is currently the chair of the regional transit agency’s board.

The competition to succeed Constantine has already begun. County Councilmember Claudia Balducci has announced her candidacy for Executive and her colleague, Councilmember Girmay Zahilay has stated that he is “strongly considering” entering the race. 

WR 2025 legislative priorities

Washington's economy has demonstrated resilience, yet uncertainty remains. Each legislative session, hundreds of state bills directly impact the retail sector. WR’s Policy and Government Affairs team collaborates closely with retailers to advocate on their behalf. Although federal initiatives may capture headlines, it is often state legislation that has the most significant effects on the industry. As the leading voice for retailers in Washington State, WR is committed to championing policies in the 2025 legislative session that foster stability, safeguard businesses, and support the growth and success of retailers and their employees.

WR’s 2025 legislative priorities include the following issue areas:

• Artificial Intelligence
• Environmental Regulations
• Public Safety, Retail Theft, & Organized Retail Crime
• Taxation, New Revenue, & Spending
• Employment Law
• Consumer Protection
• Controlled Substances
• Fair Enforcement & Regulation

WR 2025 Legislative Priorities

Governor-Elect Bob Ferguson’s Chief lays out transition plans

Governor-elect Bob Ferguson’s Chief Strategist, Mike Webb, recently outlined the transition efforts underway for Washington’s incoming administration.

A committee of 53 members has been formed to lead the transition and advance the state's key priorities for 2025. WR fully supports the Governor-elect’s focus on public safety. Of particular note is the proposal to seek $100 million in grant funding for local governments to strengthen public safety initiatives.

WR, in collaboration with Challenge Seattle and the National Retail Industry Leaders Association, is focused on addressing public safety, retail theft, and organized retail crime through a public-private partnership. Additionally, WR is working alongside the Washington Retail Crime Workgroup to explore potential legislative and funding solutions for consideration during the 2025 legislative session.

One of government’s most fundamental responsibilities is ensuring the safety of its citizens. WR fully supports these efforts and remains committed to working toward solutions that benefit our communities, employees, customers, and store owners.

WR looks forward to collaborating with Governor-elect Ferguson, his administration, Attorney General-elect Nick Brown, and the Legislature when it convenes on January 13, 2025.

Paid Leave premium rate increase to 0.92% in 2025 due to high usage

The Washington State Employment Security Department (ESD) has announced a premium rate increase for Paid Family & Medical Leave (PFML) starting January 1, 2025, from 0.74% to 0.92%. This change reflects a rising demand for benefits, resulting in an unprecedented $1.35 billion in payouts to over 175,000 workers so far in 2024.

Since the PFML program began collecting premiums in 2019, the rate has increased by 130%. Actuarial projections indicate that the premium rate is expected to reach its statutory cap of 1.2% by 2028.

The premium, shared between employers and employees, will maintain a similar division as in 2024, with employers contributing 28.48% and employees 71.52%. Small businesses with fewer than 50 employees remain exempt from the employer portion, though they must collect or cover employee premiums.

Washington’s Paid Leave program, funded by these premiums, recalculates its rate annually based on program use. An increase in claims, combined with a legislative investment of $200 million to address a 2023 deficit, initially allowed for a lower premium rate in 2024. However, premium revenue still fell short of rapidly increasing benefit payouts, driving the need for a rate hike in 2025.

This increase will help sustain the program, as more workers become eligible for benefits amid rising post-pandemic employment.

Learn more

JLARC reviews Paid Family and Medical Leave Program

The Joint Legislative Audit and Review Committee (JLARC) recently reviewed the state's Paid Family and Medical Leave (PFML) program, administered by the Employment Security Department (ESD). The program offers paid leave for public and private employees, funded through employer and employee premiums.

JLARC’s preliminary report highlighted ongoing financial challenges, with program costs surpassing revenues. Members discussed key areas for improvement, including ESD’s customer service, employer audits, and measures to prevent overpayments. They also explored the impact of the Social Security cap on rates and the potential benefits of a forward-looking rate-setting approach and a financial reserve. However, these changes would require legislative action.

ESD addressed questions on call center performance, noting issues with high call volumes and long hold times. JLARC’s report recommends that the Legislature adjust the rate-setting formula and that ESD improve program administration to enhance financial sustainability. 

The final report, incorporating ESD’s official response, is expected in January 2025.

Why It Matters:

• Stabilizing PFML funding
• Enhancing customer service and program oversight
• Strengthening financial and operational sustainability

WR will continue to advocate for employers’ interests and to keep the current premium share formula to minimize the continuous rising cost of doing business.

Read the report

View the fact sheet

Watch a 90-second video

VoterVoice sign-up: Be ready for the 2025 legislative session

As we approach the 2025 legislative session, a significant number of bills and initiatives are expected to impact the retail sector. Now is the time to ensure your voice is heard by signing up for VoterVoice, WR’s online advocacy tool.

What is VoterVoice?

VoterVoice allows you to easily send messages to federal and state legislators to express your support or concerns about key legislative issues. Through VoterVoice, WR will keep you informed about important retail-related topics and provide sample letters that you can send directly to your representatives.

Why sign up now?

With many bills on the horizon that could directly affect your business, staying informed and having a voice in these discussions is crucial. VoterVoice makes it easy to participate in the process.

Signing up is quick & easy:

1. Click here to sign up for VoterVoice
2. Enter your information
3. Click the "Save” button to complete your registration

It’s that simple! Don’t wait—be ready for the 2025 legislative session and make sure your voice is heard. Sign up today!

Washington State’s incoming administration declares support for the ORC Task Force

During the November 7 Washington State Organized Retail Crime Task Force meeting both Governor-Elect Bob Ferguson and Attorney General-Elect Nick Brown made an appearance to express strong support for the Attorney General's ORC Task Force. The unit, established in 2023 to address the rising threat of organized retail crime, has become a vital resource to prosecute large-scale ORC rings.

With ORC incidents increasing nationwide, Ferguson and Brown’s commitment to the Task Force signals a continued focus on protecting Washington’s retail businesses and communities. Both leaders have emphasized the importance of tackling retail crime through collaborative, multi-agency initiatives that can respond swiftly to complex theft networks and provide essential resources to local law enforcement.

WR looks forward to working with the incoming administration to improve public safety and combat ORC across Washington.

Mayor Harrell announces creation of Downtown Activation Team

On November 15, Mayor Bruce Harrell announced that he has signed an Executive Order establishing a Downtown Activation Team (“DAT”).

The DAT will coordinate the work of thirteen (13) city agencies to clean, beautify, and activate downtown Seattle and the Chinatown-International District (“CID”). According to the Executive Order:

This team will provide a compassionate, coordinated, and place-based response to the challenges associated with criminal behavior, street and sidewalk cleaning, garbage pick-up, vegetation and odor control, public space lighting and activation, graffiti abatement, art creation, street closure activations including closures for special events, business space vacancies, and short- and long-term environmental improvements.

While the initial focus will be on downtown and the CID, the City may expand these efforts to other neighborhoods in the future.

In addition, the Mayor plans to propose legislation to the City Council aimed at protecting City employees and contractors from interference while they work. This legislation will also strengthen enforcement against illegal street vending, a known avenue for selling stolen goods. It will clarify the Seattle Police Department’s authority to enforce existing laws and support retail theft prevention.

Public safety overtakes homelessness as top concern for Seattle residents

Seattle residents now rank public safety as their top concern, according to the latest findings from “The Index,” a survey conducted by the Seattle Metropolitan Chamber of Commerce. With 41% of respondents citing “crime, drugs, and public safety” as their primary worry, the issue has overtaken homelessness, which fell to 37% from 50% in last year’s survey.

The shift comes amidst a general decline in overall crime rates in 2024, compared to the previous two years. By August, there were 28,792 reported crimes in Seattle, significantly lower than the 46,011 reported in 2023 and 50,198 in 2022. Despite this, more than half of residents still believe the city is on the wrong track, with frustrations growing over the perceived lack of progress by city officials.

Interestingly, concerns over “Government, Politicians, and local leaders” have also risen sharply, now ranking third at 15%.

While more voters support a stronger police presence to tackle crime, there is cautious optimism as Seattle’s quality-of-life rating has improved, reaching its highest score since the survey began. However, the survey’s 700 respondents reflect an ongoing need for urgent action.

Crime and punishment: No consensus in Olympia

In Olympia, lawmakers are deeply divided on the issue of public safety. Rep. David Hackney, D-Renton, a former federal prosecutor, emphasizes the impact of under-policing on communities of color, noting that crime, rather than police, is a bigger concern for his constituents. Hackney helped form the Public Safety Caucus to support accountability for lawbreakers and advocates for stronger law enforcement.

Rep. Roger Goodman, D-Kirkland, chairs the Community Safety, Justice & Reentry Committee and champions a more rehabilitative approach. He emphasizes evidence-based reforms to the criminal justice system, focusing on minimizing trauma and enhancing community safety through decriminalization and diversion programs.

Both lawmakers have different views shaped by the communities they represent. Hackney’s district in Renton experiences higher levels of gun violence, while Goodman’s district in Kirkland reports fewer crime incidents. Their differing philosophies highlight the challenge of achieving consensus in Olympia, as Hackney pushes for tougher measures while Goodman advocates for a more compassionate approach.

As the public safety debate continues, these contrasting perspectives will shape the legislative agenda in the upcoming session, with proposals ranging from drug treatment accountability to police pursuit laws. Both Hackney and Goodman remain unopposed in their re-election bids, signaling continued influence in these discussions.

WR has been on the front lines as retailer’s tackle the challenges of retail theft in their stores, impacting employees and consumers alike.  We agree that public safety is not a one-size-fits-all solution and that legislative action is necessary. To address the growing issue of Organized Retail Crime (ORC), collaboration between the public and private sectors will continue to be essential. That’s why WR, in partnership with Challenge Seattle and WAORCA, developed the Organized Retail Crime Resource Hub. This platform provides retailers, law enforcement, and policymakers with best practices, tools, and resources to strengthen efforts in combating ORC. As debates on public safety continue, WR remains committed to fostering collaboration and delivering practical solutions to protect Washington’s retailers.

SeattleTimes.com

Chef Ethan Stowell and his restaurant group are closing one of his Seattle restaurants

By Joey Thompson – Reporter, Puget Sound Business Journal

Oct 16, 2024

The Puget Sound region's most prolific restaurateur is shuttering one of his Seattle restaurants.

After nearly 10 years in business, James Beard-nominated chef Ethan Stowell and his restaurant group are closing the Ballard Pizza Co. location at 4010 Leary Way NW in Frelard, between Fremont and Ballard. Its last day in operation will be Saturday, he told the Business Journal Wednesday.

Stowell cited pervasive property crime issues and public safety concerns for the closure, as well as a decline in delivery orders.

"That neighborhood has really taken a beating since the pandemic came into play," he said. "Now on the DoorDash piece, sales have dropped to a point where it's not a viable program. A business has to be able to make some money in order to continue to thrive, reinvest and give people raises."

At the same time, Stowell is moving the original Ballard Pizza Co. on Ballard Avenue Northwest to a bigger space about a block away. The pizzeria opened at 5107 Ballard Ave. NW in 2012. It will close Oct. 26 as the chain prepares to move to the former Pike Taproom space at 5205 Ballard Ave. NW.

The former taproom's 2,500-square-foot space will be an upgrade for the pizzeria, with a full bar and TVs, Stowell said. It's set to open Nov. 1.

"We want to consolidate two locations and have better service," Stowell said. "Our specific message to the team is we’re doing this to make this program better."

The taproom closed earlier this spring, about a year after it opened.

Seattle Hospitality Group, which owns a stake in Pike Brewing Co., is also a major investor in Ethan Stowell Restaurants. In Ballard, Stowell managed the taproom's food operations.

The building in Frelard that Stowell is leaving is owned by Fremont Dock Co., a real estate company with dozens of retail properties around Fremont. The lot is also home to Turkish fine dining restaurant Hamdi.

The pizzeria's closure highlights the challenging economic environment for restaurants in Seattle and across Washington, as both operating and non-operating costs soar and cautious consumers become more resistant to higher prices.

Ballard Pizza Co. opened in 2015. In the last five years, Stowell said the restaurant has been broken into 40 times, and the surrounding area has become a hazard for staff and guests.

The drop in delivery orders since January has been felt by restaurants across the city, after companies such as DoorDash and Uber Eats instituted new fees in the wake of Seattle's new minimum wage law for gig drivers.

Ballard Pizza Co.'s other locations include Woodinville and South Lake Union.

Washington Retail (WR) emphasizes the urgent need for continued progress in addressing public safety and property crime in Seattle. The closure of Ballard Pizza Co., after facing numerous break-ins and growing safety concerns, highlights the significant challenges local businesses endure. WR remains committed to advocating for stronger public safety measures and fostering collaboration between the public and private sectors to ensure a safer environment where businesses can not only survive but thrive.

Longtime downtown Seattle retailer to close Pacific Place store

Published in the Puget Sound Business Journal

By Joey Thompson – Reporter

Nov 18, 2024

A home decor store that’s called downtown Seattle home for more than a decade will soon close its doors.

The Timothy De Clue Collection is closing its store on the ground floor of Pacific Place later this year, owner Timothy De Clue told the Business Journal. He cited the changing retail landscape and growing concerns for retail theft.

“It has been an incredible journey, one filled with so many unforgettable memories and wonderful relationships with our customers,” De Clue said. “This was not an easy decision, but as the retail landscape changes and new challenges arise, we are choosing to close this chapter on a high note.”

De Clue opened his first store in Georgetown in 2011, selling dinnerware, barware, decor and other home goods. He moved to First Avenue and Seneca Street in 2017. That store operated for three years before closing amid the pandemic.

The closure adds to the list of vacancies at downtown’s biggest mall, which in the past had been home to retailers such as Barneys New York, Lululemon and Williams Sonoma. The property’s new owners, Los Angeles-based BH Properties, are tasked with turning around the more than half-empty indoor shopping center — a task that many in Seattle believe is critical to the city’s retail recovery.

Issues with foot traffic, retail theft and changes to shopping habits have caused a number of retailers to leave downtown Seattle since the onset of the pandemic, as new brands to the market such as Bloomingdale’s opt to open stores in more suburban settings.

The Timothy De Clue Collection opened at Pacific Place in July 2023, filling 5,000 square feet. Anchor tenants at the mall include Din Tai Fung and an AMC movie theater. 

At De Clue’s store, “big issues” with crime and retail theft started to arise last month, he said. “That sealed the deal on going out of business,” he added.

De Clue hasn’t settled on a closing date. The store’s lease expires at the end of the year, and De Clue estimates the last day of business will occur in mid-to-late December, depending on what inventory remains.

Congressman Adam Smith tours Macy’s at Southcenter Mall to address organized retail crime

Congressman Adam Smith (D-9) recently joined the WR Government Affairs team, Southcenter Mall representatives, and Macy’s management for an in-depth tour of Macy’s Southcenter location. The tour, Led by key Macy’s staff, including incoming WR Board of Directors Chair Opio Dupree (VP. Government & Public Affairs), focused on the pressing issue of organized retail crime (ORC).

During the visit, Congressman Smith gained firsthand insights into the impacts of ORC on local retailers and the proactive strategies being implemented to combat it. The tour highlighted the toll ORC takes on daily operations, employee safety, and customer experience. With ORC rising nationwide, collaboration between retailers and policymakers has become essential to addressing these threats to inventory and security.

WR asked Congressman Smith to consider co-sponsoring the Combating Organized Retail Crime Act (CORCA, S. 140/H.R. 895). This bipartisan legislation would establish a federal Organized Retail Crime Coordination Center to enhance collaboration between federal, state, and local law enforcement for more effective responses to ORC networks. CORCA also includes updates to the U.S. criminal code to better address the realities of ORC. Congressman Smith’s support for this bill would play a vital role in fostering safer shopping environments and strengthening the resilience of Washington’s retail economy.

With backing from over 150 bipartisan co-sponsors, CORCA is a significant step toward protecting businesses and reducing the economic and social impacts of ORC on communities.

Add the ORC Resource Hub widget to your website and help combat organized retail crime

WR, in collaboration with Challenge Seattle and WAORCA, is thrilled to announce the launch of the Organized Retail Crime (ORC) Resource Hub. This comprehensive online platform is designed to tackle the growing threat of organized retail theft by providing essential resources for retailers, law enforcement, and community partners.

A standout feature of the ORC Resource Hub is its innovative widget, which allows you to effortlessly integrate this valuable resource directly into your company’s website. This means your customers and staff can access best practices, information-sharing tools, and training materials right at their fingertips. The widget enables you to contribute to the fight against ORC while enhancing your website's functionality and providing a seamless experience for your audience.

Getting started is easy! If you’re ready to enhance your website with the ORC Resource Hub widget, simply click the “Get Started” button in the widget section to request access.

Together, by sharing strategies, knowledge, and resources, we can strengthen our defenses against ORC. The success of this initiative relies on the collective commitment of policymakers, retailers, the criminal justice community, and the public.

Discover more and access the ORC Resource Hub at ORCResourceHub.org today!

Washington faces $5.1 billion budget shortfall

Washington state is projected to face a significant budget shortfall of $5.1 billion in the upcoming 2025-27 biennium, according to preliminary estimates. This gap stems from the rising cost of maintaining current services, which exceeds forecasted revenues for the Near General Fund Outlook (NGFO). The shortfall could expand to $7.5 billion over the next four years. 

The estimate factors in the September revenue forecast, expected costs for collective bargaining agreements, and inflation adjustments. The state’s rainy day fund is projected to hold $2.977 billion by the end of the forecast period, leaving a considerable deficit to be addressed.

This shortfall isn’t due to a recession but rather a result of legislative choices. Lawmakers increased spending despite knowing that revenue growth would slow. Additionally, reserves were tapped to fund general spending, leaving an insufficient cushion to cover the gap.While these are early estimates, with two more revenue and caseload forecasts to come before the Legislature enacts the 2025-27 budget, the current outlook signals a challenging fiscal period ahead for the state.

Read the report

The business tax burden in Washington is above the national average

By: Washington Research Council 

State business and occupation (B&O) tax collections are up 258% since 2000. But businesses also pay sales, property, and many other state and local taxes. Indeed, businesses paid 49.7% of total state and local taxes in Washington in fiscal year 2022, according to a report from the Council on State Taxation. (Nationally, businesses paid an average of 44.6% of state and local taxes.)

Washington businesses paid $10,100 in state and local taxes per employee. This was the 11th highest amount among the states, and 18.8% above the $8,500 average paid nationally. Meanwhile, according to the Tax Foundation, Washington’s tax competitiveness is the sixth worst in the nation.

Washington businesses face a heavy tax burden compared to businesses in other states. Taxes are not the only factor for businesses deciding where to set up shop, but they are part of the consideration. Washington’s competitiveness will worsen if the business tax burden continues to grow.

Read the Report

Navigating West Coast rail congestion: Strategies for shippers

West Coast ports are experiencing elevated container volumes, leading to rail congestion and extended dwell times. The Ports of Los Angeles and Long Beach report dwell times ranging from four to eight days—well above the ideal two to four days—while Oakland remains steady. Closer to home, Northwest Seaport Alliance (Seattle/Tacoma) is also feeling the strain, with an average rail dwell time of four days.

To combat delays, rail operators like BNSF and Union Pacific are expanding capacity and collaborating with drayage providers to manage the backlog. Shippers are exploring alternative strategies, including cross-docking and air freight, to keep supply chains moving. Some are diverting cargo to East Coast ports or utilizing Canadian and Mexican routes. With trucking capacity still robust, many opt for transloading to domestic containers as a flexible solution.

Experts predict relief may come by Q1 2025, but ongoing labor disputes add uncertainty. For now, shippers must remain agile, leveraging diverse transport options to avoid costly disruptions.

Record number of hoppers expected over Thanksgiving weekend

A record-breaking 183.4 million people plan to shop in-store and online this Thanksgiving weekend, according to a National Retail Federation (NRF) and Prosper Insights & Analytics survey. This marks a slight increase from last year’s 182 million and reflects a growing trend compared to 2019's 165.3 million.

Black Friday remains the busiest shopping day, with 72% (131.7 million) of participants, while Cyber Monday is second, attracting 39% (72.3 million). Retailers are prepared to meet the surge, with 57% of consumers saying they’re driven by unbeatable deals.

Notably, 89% of young adults (18-24) plan to shop, highlighting the event’s social appeal. NRF projects holiday spending to reach record levels, between $979.5 billion and $989 billion, this November and December.

Shoppers have already started early, with 58% having completed 25% of their purchases by early November. For those undecided, sales, free shipping, and social invitations may sway them to join the weekend rush.

This data underscores the enduring significance of Thanksgiving weekend in shaping holiday sales, providing valuable insights for retailers to maximize their seasonal strategies.

Holiday shopping to hit $125 billion in 2024

The ICSC's 2024 Thanksgiving Weekend Intentions survey projects consumer spending to reach $125 billion during the five-day shopping period from Thanksgiving to Cyber Monday. With 90% of consumers, or 236 million people, planning to shop, the holiday weekend remains a crucial time for retailers.

 Millennials and Gen X are expected to lead spending, averaging 50% more than other generations, while Gen Z and Millennials are likely to dominate store and website visits. Deals and discounts are key motivators, with 57% of shoppers citing promotions as their primary reason to shop. Many plan to purchase essentials or items they delayed due to high prices.

Physical retail continues to play a pivotal role, with 88% of consumers planning in-store visits. Shopping centers, evolving into community hubs, will attract 82% of shoppers with dining, entertainment, and holiday experiences.

This year’s Thanksgiving weekend demonstrates the enduring importance of both physical and digital retail channels, with opportunities for brands to engage customers through strategic promotions and memorable shopping experiences.

NRF 2025: Retail’s Big Show – Shaping the future of retail

Looking to transform your retail strategy? NRF 2025: Retail’s Big Show is the event to attend! From January 12-14 in New York City, industry leaders will gather for over 170 sessions packed with innovative insights.

This year’s keynote speakers include top names like Kate Ancketill (GDR Creative Intelligence), Michael Bush (Great Place to Work), Brian Cornell (Target), Mary Dillon (Foot Locker), and Tommy Hilfiger. CEOs from Walmart, lululemon, Shopify, and other major brands will share strategies to navigate the evolving retail landscape.

In addition to thought-provoking talks, the massive Expo will showcase cutting-edge tech solutions designed to help businesses thrive.  

Register by November 20 to save $200 on an All-Access Pass. Don’t miss your chance to gain actionable ideas and connect with the brightest minds in retail.

Register now to secure your spot at the premier event shaping the future of retail!