retail news in context, analysis with attitude

• FreshDirect, the NYC-based pure play online grocer, is teaming up with crowdfunding site RocketHub "to find the newest, coolest food-related innovation," according to a story on

The story says that the companies are "seeking the latest and greatest food products, kitchen gadgets, farming advancements or any other innovation that involves what you eat and how you eat it. Applicants have until the end of the month to submit their ideas online. Finalists will be announced in November and will then have to crowdfund their businesses on The winner will be chosen based on the amount of money raised, the quality of the idea and engagement with the crowd."

• The National Retail Federation (NRF) said yesterday that it "expects sales in the months of November and December to increase 3.9 percent to $602.1 billion, over 2012’s actual 3.5 percent holiday season sales growth. The forecast is higher than the 10-year average holiday sales growth of 3.3 percent."

However, while there is optimism about the holiday shopping season, the forecast also is "somewhat hinging on Congress and the Administration’s actions over the next 45 days; without action, we face the potential of losing the faith Americans have in their leaders, and the pursuant decrease in consumer confidence."
KC's View: