PPB July 2022

Market Snapshot Amid persistent supply-chain snarls, skyrocketing inflation and troublesome gaps on their store shelves, retailers are caught in a web of seemingly endless issues. They’re in the middle of what economists are calling the “great retail reset.” According to Deloitte, this reset involves retailers addressing current challenges and looking ahead to how they want to conduct business in the future. For example, some retailers are reassessing how they buy and sell products. Others are choosing to scale back on promotions to boost profits. Staffing is another component of the great retail reset, with 74% of retailers expecting shortages in customer-facing positions this year. More than half (56%) also expect shortfalls in warehouse positions. Retailers are competing against every other market for talent, and to stand out, they need to capture the attention of jobseekers. If businesses want to take down those “help wanted” signs for good, they can use promotional products to recruit and retain workers. Top 10 Largest Retailers In The U.S. These companies bring in the most annual retail sales: 1 Walmart $430 billion 2 Amazon.com $187 billion 3 The Kroger Co. $131 billion 4 The Home Depot $121 billion 5 Costco Wholesale $121 billion 6 Walgreens Boots Alliance $104 billion 7 Target $92 billion 8 CVS Health Corporation $89 billion 9 Lowe’s Companies $82 billion 10 Albertson’s Companies $69 billion Source: National Retail Federation The Nation’s Fastest-Growing Retailers These retailers saw the largest year-over-year growth: 1 Wine.com 99% 2 Overstock.com 75% 3 Boohoo Group PLC 60% 4 Wayfair 55% 5 1-800-Flowers.com Inc. 51% 6 Boxed.com: 47% 7 Amazon.com 34% 8 Schwarz Group 32% 9 EG Group 31% 10 Ollie’s Bargain Outlet 28% Source: National Retail Federation | JULY 2022 | 55 GROW