The Retailers to Watch in 2023
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Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.
Today, we're talking about the retailers to watch in 2023, the outlook for a potential recession and Shopify expanding services for big retailers.
Here's what you need to know:
Despite a rocky retail landscape, some retailers are poised for growth this year.
A recent report from foot traffic analytics firm?Placer.ai?analyzed the different ways that successful retailers are distinguishing themselves in 2023 by offering value, embarking on store expansion plans and reaching new markets.
The Federal Reserve will need to strike a balance between inflation and soaring interest rates to avoid a recession in 2023.
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That’s according to the National Retail Federation’s chief economist Jack Kleinhenz, who discussed the potential of a recession this year in his monthly economic review for January.
In an effort to curb spending and rising prices, the Federal Reserve has implemented a series of interest rate hikes in recent months. In December, it raised rates another half a percentage point, marking the?highest level in 15 years. While these rate hikes are aiming to ease spending and cool inflation, they could potentially increase the chances of a recession in 2023 as well, Kleinhenz said.
For the first time,?Shopify?is opening up access to its infrastructure with the launch of Commerce Components by Shopify (CCS).
According to the commerce tech company, which typically services small- to mid-size businesses, its new CCS product features an all-new back-office management system designed specifically for enterprise retail.
Now larger businesses can pick and choose which Shopify components to use — anything from one-click checkout, content services, storefront search, fraud protection, tax services and more.
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