Latest news with #KentuckyRetailFederation
Yahoo
19-04-2025
- Business
- Yahoo
How much are you spending on Easter?
Happy Easter Eve. How much did you spend on Easter this year? The National Retail Federation says we're expected to spend $23.6 billion nationwide. The record was $24 billion in 2023. 'While there is undoubtedly some uncertainty in our current economic landscape, we are thankfully seeing strong indicators of a healthy retail environment,' Tod Griffin, president of the Kentucky Retail Federation, said in a news release. The top categories for Easter shopping are candy, food, gifts, decorations and clothing. • Oralis Radilla is adding a third Mexican restaurant to her holdings. She owns Don Mario's downtown and Real Hacienda on south Frederica Street. And now, Radilla is adding Don Mario's Windridge on the east side of town. The new restaurant will be in the Windridge Country Club. J's Good Grub, which has been at the country club for several months, will be at the Locker Room, 224 Carlton Drive, according to owner Jay Johnson's Facebook page. • S&P Global Market Intelligence says more companies filed for bankruptcy protection in the first three months of this year than in the first quarter of any year since 2010. The report said 190 companies filed for bankruptcy protection through March. • Kentucky Realtors, the largest professional association of realtors in the state, says $1.06 billion of real estate was sold in Kentucky last month. That's down 4.2% from a year ago, but up 21.7% from February. The number of listings sold was down 7.6% from last year but up 22% from February. The median price was $265,000 and the median days on the market was 25. 'Buyers and sellers are continuing to engage with confidence, and the linear price appreciation shows the value of homeownership in our communities,' Josh Summers, CEO of the organization, said in a news release. • The Lane Report says Kentucky ranked 31st in the nation in new business applications last year. It says the state had more than 54,000 applications in 2024. • This isn't good news for older workers. The Lane Report said Kentucky ranked 47th among the best states for senior workers. That came from which based its rankings on age-related discrimination, labor force participation, income, remote work, income taxes and new business growth. The report said a record 11.2 million Americans ages 65 and older are currently in the workforce. And that's expected to climb to 14.8 million by 2033. The U.S. Bureau of Labor Statistics predicts a 79% increase in workers ages 75 and up and a 22.4% increase among those ages 65 to 74.
Yahoo
13-02-2025
- Business
- Yahoo
Record Valentine's Day spending expected in Kentucky
FRANKFORT, Ky. (FOX 56) — Never say, 'Love doesn't cost a thing.' That's because this year Americans are shelling out big bucks for Valentine's Day. The Kentucky Retail Federation (KRF) said love will drive America's pounding hearts to spend a record $27.5 billion on Valentine's Day this year. That's up from last year's $25.8 billion and would top the 2020 record of $27.4 billion. This year, the average shopper is expected to spend $189 on Valentine's Day gifts. On top of that, the merchant payments coalition warns consumers should be aware of rising swipe fees on credit and debit cards. Credit card companies are expected to charge shoppers over $600 million in hidden costs. Experts said the average swipe fee will cost people $4.27, which is about the cost of a standard Valentine's Day greeting card. 5 romantic Valentine's Day trips in Kentucky, according to The Knot 'A lot of focus is paid on those swipe fees because, you know, these are of day periods of time where people are shopping, and for retailers, those swipe fees are the second biggest cost that they have next to labor. So, it is a concern,' said Steve McClain, director of communications and public relations with KRF. Retailers said since the pandemic swipe fees have risen 50%, reaching a record $172 one of the many reasons more people are expected to use cash this Valentine's Day. Tomorrow thousands of people will celebrate Valentine's Day with chocolates, flowers, and cards. This year consumers are expected to set a new Valentine's Day spending record, and what people are shopping for won't surprise you. The KRF said candy, flowers, greeting cards, a nice dinner in a restaurant, and jewelry are the top 5 gifts. Record Valentine's Day spending expected in Kentucky Estill County business prepares for a familiar flooding scene 1 severely injured after home explosion in East Bernstadt When you break down the numbers, 56% of people will buy candy, 40% will opt for flowers and a card, 35% on an evening out, and 22% on jewelry. In keeping with recent trends, consumers listed online shopping as their top shopping destination, with 38% of people choosing to do their shopping from home. McClain said while millennials will spend the holiday with more experience-based gifts like going to see a movie, Gen Z will stick to the more traditional gifts. 'Your younger generation, they've got student debt; housing costs are higher. So instead of doing say a weekend away, they are doing your traditional gifts, your candy, your flowers, maybe fixing dinner,' said McClain. The KRF predicts half of Americans will celebrate Valentine's Day, and more men will be participating this year than last year. For those not focused on a significant other, 28% still plan to celebrate it, like doing something special for themselves or getting together with other friends and family. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
