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NRF: Retail Will Expand in 2011

The NRF Foundation, the research and education arm of the National Retail Federation, released its ninth annual "Retail Horizons: Benchmarks for 2010, Forecasts for 2011" report, which was published in conjunction with KPMG.

NRF reported an overall trend toward retail expansion based on responses from more than 300 retail executives interviewed.

  • 41 percent planned to increase domestic store expansions in 2011, up from 25 percent in 2010.

  • 25 percent will expand overseas, up from 21 percent a year ago.

  • 58 percent reported that cost reduction or containment will remain a strategic initiative, down from 81 percent in 2010.

  • 69 percent identify mobile e-commerce as a strategic initiative, up from 28 percent a year ago.

  • 74 percent plan to increase consumer insight and data gathering initiatives, up from 65 percent in 2010.

  • 75 percent said customer service would be a top priority in 2011, compared to 56 percent in 2010.

  • 79 percent used Twitter in 2010, up from 61 percent in 2009.

  • 78 percent of the execs ranked customer loyalty programs first, up from 65 percent a year ago.

  • 80 percent of retailers will make leadership development a top priority in 2011, up from 69 percent in 2010.

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