Retail Politics: Day Two from NRF’s 2012 BIG Show

Day two of the NRF’s 2012 BIG Show, was just that, BIG. Attendance rose in 24 hours from 22,000 to 24,000 retailers – all rushing to snag a seat in the North Hall for the opening address by Matthew Shay, President and CEO of the National Retail Federation. Shay’s opening remarks on the role 2012 will play in the history of retail formalized the reported undertones of Day One (immediacy, impact, identity,  investment and innovation).

Promoting NRF’s ‘Retail Means Jobs’ campaign, Shay celebrated the successful outcomes of the retail challenges of 2011. The last 18 months of consecutive retail growth have been an appropriate statistic to place on the table before the announcement of the 2012 retail forecast: $2.5 trillion – up 2.4% from 2011. Shay stressed that in order to hit our forecast, retailers and partners must engage and evolve with three major retail trends:

• In-store, online and mobile convergence
• Empowered consumers (Retailers must focus on recruiting, training and retaining talent needed to engage and evolve with the shopper and consumers of the future)
• International retail growth

In addition to the necessary action retailers and partners must take in 2012, Washington must do its part to ensure that retail remains America’s foundation of jobs. With one in four U.S. jobs falling into the category of retail, Shay stressed the important role retail politics will play in the future economic health of our industry and country. In 2012 alone, four major initiatives will impact retail for better or for worse: TransPacific partnership, reform of our VISA system, corporate tax rates and initiative sales tax fairness. The NRF is committed to working with Congress on these and other issues. If handled from a global perspective, this will allow retail to continue to be a major contributor to the U.S. economic recovery.

Quote of the day:
“Dr. Martin Luther King recognized work is at the core of human dignity,”
– President Bill Clinton, Founder of the William J. Clinton Foundation and 42nd President of the United States.

President Clinton referenced retail’s role is the U.S. job market as the country celebrated the life and contributions of Dr. Martin Luther King, Jr.

For coverage of President Clinton’s address on “Embracing our Common Humanity,” stats and insights from retailer panels and breakout sessions, check out The Brand Show’s live twitter feed. Today’s highlighted brands: Ascena Retail, The Bay (hudson’s Bay Company), Best Buy, SIMON Malls, Shopkick, Macy’s and more.

Stay tuned for more insights from NRF’s BIG Show and read our post from Day One.