The NPD Group

Soaring Prices in the US Office Supplies Industry Expected to Result in Unit Sales Declines Through 2024

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Tuesday, May 17, 2022

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PORT WASHINGTON, N.Y., May 17, 2022 /PRNewswire-PRWeb/ -- According to The NPD Group, the U.S. office supplies industry is among the many being impacted by rising average sales prices (ASPs), and while this is likely to lead to revenue gains, unit sales are in decline. For office supplies products, excluding storage categories as well as janitorial and breakroom supplies, the overall industry ASP is up 10% in Q1 2022 vs. Q1 2021 and has climbed 21% when compared to pre-pandemic Q1 2019. Based on the newly released Future of Office Supplies forecast, ASPs are expected to be up 8% year over year in 2022, resulting in a 6% annual unit sales decline. However, industry revenue is expected to increase 1%, driven by 6% growth during the back-to-school season (Q3 2022).

Key Points:

Based on the newly released Future of Office Supplies forecast, ASPs are expected to be up 8% year over year in 2022, resulting in a 6% annual unit sales decline.
Looking ahead through 2024, both industry revenue and unit sales are expected to see low single-digit declines year over year in 2023 and 2024.
Despite these declines, there are several office supplies categories that are expected to sustain higher revenue sales in 2024 than pre-pandemic 2019.
"There are many areas of opportunity in the coming years for retailers and manufacturers in the office supplies industry.

Sales of Food Preservation and Storage Products Grow by Double-Digits As Consumer Demand Increases

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Tuesday, May 17, 2022

CHICAGO, May 17, 2022 /PRNewswire-PRWeb/ -- With 86% of meals sourced from home, food inflation at a 40-year high, the average U.S. household wasting $1,866 of food each year*, U.S. consumers are storing food and leftovers to stretch their food dollars and meals while reducing food waste. The return to worksites and schools and more extracurricular and outside activities has increased the need to pack food for away-from-home meals and snacks. These needs drive the demand for food storage products, reports The NPD Group. Consumers spent $2.1B on food preservation and storage products in the 12 months ending February 2022, up 36% versus two years ago, according to NPD's continual tracking of home industry retail sales.

Key Points:

These needs drive the demand for food storage products, reports The NPD Group.
Consumers spent $2.1B on food preservation and storage products in the 12 months ending February 2022, up 36% versus two years ago, according to NPD's continual tracking of home industry retail sales.
Preserving and storing food and leftovers and carrying food from home helped drive the growth of food preservation and storage product sales.
"By understanding demand drivers, food preservation and storage manufacturers can effectively market their products, produce products that meet consumer needs, and better merchandise them."

Despite A Rough Two Years, U.S. Independent Restaurants Still Represent Over Half of U.S. Commercial Restaurant Units and Are Recovering

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Monday, May 16, 2022

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CHICAGO, May 16, 2022 /PRNewswire-PRWeb/ -- Despite bearing the brunt of the pandemic dining room lockdowns and restrictions, independent restaurants with one to two locations still represent 53% of total restaurants in the U.S., reports The NPD Group. Independent restaurant locations declined by 8% or 28,399 units in 2020 but grew by 1% or 2,893 units by late 2021, according to NPD's Fall 2021 ReCount® restaurant census, which counts restaurants opened as of September 30, 2021. Independent locations are growing in seven of the nine Census divisions and large urban areas like Los Angeles, Dallas-Fort Worth, and Seattle-Tacoma.

Key Points:

CHICAGO, May 16, 2022 /PRNewswire-PRWeb/ -- Despite bearing the brunt of the pandemic dining room lockdowns and restrictions, independent restaurants with one to two locations still represent 53% of total restaurants in the U.S., reports The NPD Group.
Independent restaurant locations declined by 8% or 28,399 units in 2020 but grew by 1% or 2,893 units by late 2021, according to NPD's Fall 2021 ReCount restaurant census , which counts restaurants opened as of September 30, 2021.
Independent locations are growing in seven of the nine Census divisions and large urban areas like Los Angeles, Dallas-Fort Worth, and Seattle-Tacoma.
Another sign of recovery is independent restaurant operators who purchase enough volume to order from broadline foodservice distributors have increased their spending and orders.

The NPD Group Reports on First Quarter 2022 Toy Industry E-commerce Sales in China

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Thursday, May 12, 2022

PORT WASHINGTON, N.Y., May 12, 2022 /PRNewswire-PRWeb/ -- Toy industry e-commerce sales in China increased by 8.8% to $1.3 billion (USD) in the first quarter (Q1) of 2022 (January – March) versus the same time period last year, and 27% from Q1 2020, according to The NPD Group.

Key Points:

PORT WASHINGTON, N.Y., May 12, 2022 /PRNewswire-PRWeb/ -- Toy industry e-commerce sales in China increased by 8.8% to $1.3 billion (USD) in the first quarter (Q1) of 2022 (January March) versus the same time period last year, and 27% from Q1 2020, according to The NPD Group.
The top three growing supercategories in Q1 2022 were Explorative & Other Toys, Games & Puzzles, and Plush, increasing 33%, 24%, and 22%, respectively.
Sales of licensed toys in the first quarter of this year increased 14.1%, with Ultraman being the top-selling license.
The NPD Group anticipates continued strength for toy sales in China's growing e-commerce channel.

The NPD Group: First Quarter 2021 US Consumer Spending on Video Game Products Decreased 8% to $13.9 Billion

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Wednesday, May 11, 2022

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PORT WASHINGTON, N.Y., May 11, 2022 /PRNewswire-PRWeb/ -- According to the Q1 2022 Games Market Dynamics: U.S.* report from The NPD Group, overall total consumer spending on video gaming in the U.S. totaled $13.9 billion in the first quarter (Q1) of 2022 (January – March), a decline of 8% when compared to Q1 2021.

Key Points:

Losses were seen across console and portable content, PC, cloud and non-console VR content, mobile content, hardware, and accessories.
Data from Sensor Tower shows U.S. consumer spending in mobile games during the first quarter fell 10% from Q1 2021.
"We witnessed an uncharacteristic quarter-over-quarter decline in mobile game spending by U.S. players coming out of 2021," said Randy Nelson, head of mobile insights at Sensor Tower.
Overall content spending in Q1 reached $12.13 billion, a 7% decrease over Q1 2021.

Canadian Restaurants Enjoyed A Robust Return of Customers in the First Quarter

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Wednesday, May 11, 2022

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TORONTO, May 11, 2022 /PRNewswire-PRWeb/ -- The Canadian foodservice industry continued to show promising recovery in the first quarter of 2022 compared to the same quarter last year, reports The NPD Group. Physical and online visits to restaurants and commercial foodservice outlets increased by 18% in the first quarter compared to the same quarter last year, when traffic declined by 9% due to indoor dining restrictions. Consumer spending in the quarter grew by 27% compared to a year ago when spending declined by 12%, according to NPD's continual tracking of the Canadian foodservice industry.

Key Points:

In the quarter, consumer spending in the quarter grew by 27% compared to a year ago when spending fell by 12%.
TORONTO, May 11, 2022 /PRNewswire-PRWeb/ -- The Canadian foodservice industry continued to show promising recovery in the first quarter of 2022 compared to the same quarter last year, reports The NPD Group.
Physical and online visits to restaurants and commercial foodservice outlets increased by 18% in the first quarter compared to the same quarter last year, when traffic declined by 9% due to indoor dining restrictions.
"But for now, restaurants are enjoying the robust return of customers, even as it braces for whatever comes next."

U.S. General Merchandise Unit Sales Fell 7% in April, as Retail Revenue Declined 1%, Reports NPD

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Monday, May 9, 2022

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PORT WASHINGTON, N.Y., May 9, 2022 /PRNewswire-PRWeb/ -- The consumer's willingness to spend has been crucial to maintaining a healthy level of retail performance throughout the pandemic, but demand has been softening for several months. April 2022 U.S. general merchandise unit sales were 7% lower than a year ago, creating a 1% decline in sales revenue, according to The NPD Group.

Key Points:

April 2022 U.S. general merchandise unit sales were 7% lower than a year ago, creating a 1% decline in sales revenue, according to The NPD Group .
"Now retailers are faced with a consumer base that has more complex financial dynamics influencing their inclination to spend."
As the pandemic has worn on, higher-income consumers have played an even more significant role in the ongoing growth of retail sales.
While some consumers might be getting smaller refunds this year, many still plan to allocate that money toward retail purchases.

Levoit Awarded on Newsweek's America's Best Home & Garden Brands 2022 List

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Wednesday, May 4, 2022

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ANAHEIM, Calif., May 4, 2022 /PRNewswire/ -- VeSync's clean air brand, Levoit , the #1 selling air purifier brand in the United States*, has been awarded on Newsweek's list of America's Best Home & Garden Brands 2022 .

Key Points:

ANAHEIM, Calif., May 4, 2022 /PRNewswire/ -- VeSync's clean air brand, Levoit , the #1 selling air purifier brand in the United States*, has been awarded on Newsweek's list of America's Best Home & Garden Brands 2022 .
This prestigious award is presented by Newsweek and Statista Inc., the world-leading statistics portal and industry ranking provider.
Using ReQiew, Statista's proprietary online review analysis software, over four million reviews and ratings were collected and analyzed to determine the top home and garden brands.
As part of the VeSync Family of Brands, Levoit has received worldwide recognition for its continued innovation in reliable, intuitive designs.

US Restaurant Industry Ends Challenging First Quarter with Customer Traffic Down from A Year Ago but Up from Two Years Ago

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Thursday, April 28, 2022

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CHICAGO, April 28, 2022 /PRNewswire-PRWeb/ -- In the first quarter of 2021, the third round of stimulus payments, availability of COVID vaccines, and relaxed pandemic restrictions helped increase online and physical visits to U.S. restaurants by 3% compared to the same period a year before, reports The NPD Group. The first quarter of 2022, in contrast, presented a host of headwinds, including higher food and energy costs, for restaurant consumers and restaurants. Challenged by these headwinds and compared to a 3% gain in last year's first quarter, online and physical restaurant visits declined by 2% in the first quarter of 2022 versus a year ago and increased by 1% from the first calendar quarter of 2020 when the pandemic began. Consumer restaurant spending, which reflects higher costs instead of increased visits, was up 4% in the quarter compared to the same quarter year ago when spending rose by 7%.

Key Points:

Consumer restaurant spending, which reflects higher costs instead of increased visits, was up 4% in the quarter compared to the same quarter year ago when spending rose by 7%.
The first quarter of 2022, in contrast, presented a host of headwinds, including higher food and energy costs, for restaurant consumers and restaurants.
Consumer restaurant spending, which reflects higher costs instead of increased visits, was up 4% in the quarter compared to the same quarter year ago when spending rose by 7%.
Against traffic gains in the first quarter of 2021, first quarter 2022 visits at all restaurant dayparts were flat or declined.

Levoit is a Triple Winner of the iF DESIGN AWARDs 2022

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Thursday, April 28, 2022

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ANAHEIM, Calif., April 28, 2022 /PRNewswire/ -- Levoit, the #1 selling air purifier brand in the United States*, has been chosen as a triple winner of this year's iF DESIGN AWARDs, a world-renowned design awards program.

Key Points:

ANAHEIM, Calif., April 28, 2022 /PRNewswire/ -- Levoit, the #1 selling air purifier brand in the United States*, has been chosen as a triple winner of this year's iF DESIGN AWARDs, a world-renowned design awards program.
"We are honored to have three of our Levoit products selected as winners of the iF DESIGN AWARDS this year," said Grace Yang, CEO of VeSync.
"At Levoit, we pride ourselves on creating smart home products designed to make users lifestyles more convenient, connected and healthy.
The iF DESIGN AWARDS is an annual awards program that was produced by the world's oldest independent design organization based in Hannover, iF International Forum Design GmbH.