The Hidden Costs Driving Up Prices and Putting Retailers at Risk—What Nevada’s Legislature Can
WALK INTO ANY STORE IN NEVADA TODAY, AND you’ll notice a familiar trend: higher prices, fewer employees, and shelves that aren’t as full. Behind the scenes, retailers are battling hidden costs that quietly drive up prices and make it harder to stay in business. It’s not just inflation— it’s regulatory burdens, licensing fees, and rising insurance costs that threaten their survival.
Retailers operate on thin margins, and growing operational expenses— driven by supply chain disruptions and government policies—are making it harder to keep prices stable. When shoppers cut back, it creates a cycle of lower revenue, job losses, and fewer choices for Nevada consumers. The challenges businesses face today require immediate attention, particularly from lawmakers who can implement policies that support growth and competitiveness.
By Mary Lau, RAN CEO
Mary Lau
THE COST NO ONE TALKS ABOUT
Beyond rent and payroll, retailers face many hidden costs that shrink their bottom line:
l Regulatory Compliance Costs – Nevada businesses must pay an annual State Business License Fee of $200 (or $500 for corporations), plus LLC formation costs of $425 and annual renewal fees of $350. These costs divert resources from hiring, expanding, and improving customer service.
l Unnecessary Business Fees – Local business licenses range from $25 to $5,000 depending on the
county. Retailers also must pay zoning approval fees and industry-specific permits, such as health permits for food service businesses ($200–$1,000 annually) and occupational licenses that vary by profession. These fees add up, making it harder to remain competitive.
l Business Taxes That Cut Into Profits – Nevada is business-friendly, but taxes still add up. The Modified Business Tax (MBT) imposes a 1.17% tax on gross wages, impacting businesses that hire employees.
Hidden Costs
Meanwhile, companies earning over $4 million in gross revenue must pay the Commerce Tax, creating additional financial strain.
l IndustrySpecific Licenses and Inspections – Many businesses require additional licenses and costly inspections:
• Food service establishments pay $200–$1,000 annually for health permits.
• Contractors pay between $300 to over $1,000 annually for licenses.
• Healthcare professionals pay $500–$1,000 annually for medical licenses, while nursing licenses cost $100–$300 annually. Clinics and hospitals require extra permits and frequent inspections, increasing expenses.
• Cosmetology and beauty service providers also face high licensing costs. Salon licenses range from $100–$200 annually, while individual licenses for hairstylists, estheticians, and nail technicians cost $50–$200. Salons must comply with inspections, with potential re-inspection fees for violations.
• Liquor and gaming retailers face licensing
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processes with fees that can reach thousands of dollars annually.
l Insurance Costs
– Business insurance is a major expense. In Nevada, workers’ compensation insurance is mandatory for nearly all businesses with employees, and costs depend on industry risk levels and claims history. Small businesses pay an average of $684 annually, but those with higher risks—such as retail operations handling heavy goods—often face steeper premiums. Additional costs include liability insurance, property insurance, and industry-specific coverage, adding thousands of dollars in annual expenses.
l Credit Card Fees
– Credit card processing fees are one of the most overlooked costs impacting retailers. Every time a customer swipes a card, businesses pay interchange fees ranging from 1.5% to 3.5% per transaction, cutting into already slim profit margins. Additionally, businesses may pay monthly service fees, chargeback fees, and terminal rental fees, further increasing costs. For retailers, these fees add up quickly, yet absorbing them is
often necessary to meet customer expectations for convenient payment options.
WHAT CAN BE DONE?
Retailers are doing everything they can to stay competitive, but they can’t fix this problem alone. The Nevada Legislature has a critical role to play in ensuring businesses can survive and thrive. To support the retail industry, lawmakers should:
l Cut the Red Tape
– Simplify compliance requirements and reduce redundant fees so businesses can focus on serving customers. Removing unnecessary regulatory hurdles would free up time and resources.
l Lower Business Costs Where It Counts
– Lawmakers should explore ways to reduce excessive fees, ensure fair taxation, and provide financial relief for businesses. This includes re-evaluating the Modified Business Tax, which discourages hiring, and reconsidering the Commerce Tax, which impacts highrevenue businesses already struggling with operational costs. Reducing compliance
filing fees and penalties for late payments would also alleviate financial pressure.
l Foster a Competitive Business Climate – Reducing unnecessary costs, allowing businesses the flexibility to manage their workforce, and ensuring fair regulations will help businesses grow, sustain jobs, and drive economic stability. Creating an environment where retailers can succeed will keep communities strong and ensure consumers have access to affordable goods.
The decisions lawmakers make today will determine the future of Nevada’s retail industry. If we want thriving businesses, job growth, and stable consumer prices, we need policies that reduce costs and regulatory burdens. Prioritizing legislative solutions that help businesses succeed will build a stronger and more competitive Nevada. The road ahead isn’t easy, but with the right action, Nevada can remain a place where businesses thrive, consumers have choices, and communities stay strong.
Common Sense Legislating in Uncertain Economic Times
A BALANCED APPROACH TO PROTECTING NEVADA’S ECONOMIC FUTURE
By Bryan Wachter
ECONOMIC UNCERTAINTY IS NOTHING
NEW, BUT the challenges we face today require a levelheaded approach from policymakers. Inflation is creeping back, consumer confidence is wavering, and global trade tensions are making it harder for businesses to plan for the future. These issues aren’t just theoretical; they directly impact the cost of goods, the stability of jobs, and the economic future of Nevada.
What Nevada needs more than ever is innovation and the flexibility for businesses to maneuver, keeping the state’s economic engine running. Our state’s leaders must prioritize policies that empower businesses to adapt, grow, and invest in new opportunities rather than reacting with heavy-handed regulations that stifle progress. In challenging times, businesses don’t need more red tape—they need room to innovate, expand, and drive economic resilience.
CREATING AN ENVIRONMENTFOR GROWTH
Nevada’s retail and
business communities thrive in an environment that encourages forwardthinking solutions. When businesses have the freedom to adapt to market shifts, invest in emerging technologies, and develop creative strategies, they strengthen not just their own operations but also the broader economy. Heavyhanded regulations or restrictive policies often have the opposite effect, making it harder for businesses to pivot in response to economic pressures.
A key factor in maintaining a strong economy is ensuring businesses can maneuver quickly and efficiently. Whether it’s supply chain disruptions, changing consumer habits, or economic downturns, businesses need the ability to make decisions unencumbered by unnecessary regulatory hurdles. Rather than imposing blanket mandates, policymakers should look at ways to incentivize innovation— whether through strategic partnerships, tax credits for businesses that invest in technology, or reducing bureaucratic bottlenecks that slow down progress.
Bryan Wachter
STRENGTHENING NEVADA’S ECONOMIC INFRASTRUCTURE
Beyond flexibility, businesses need a strong economic infrastructure that supports their ability to expand. A modernized supply chain, efficient permitting processes, and investment in technologydriven industries will help Nevada stay ahead of economic uncertainties. Instead of regulations that slow down progress, policies should be designed to encourage expansion and attract businesses looking for a pro-growth environment.
One of Nevada’s greatest strengths has always been its ability to adapt. By continuing to streamline regulatory processes, supporting business-friendly policies, and fostering an economic climate that rewards innovation, the state can
position itself as a national leader in economic resilience.
A PATH FORWARD
The key to Nevada’s continued economic strength lies in a balanced approach—one that protects consumers while allowing businesses to remain agile. By fostering innovation, reducing regulatory barriers, and ensuring businesses have the flexibility to navigate challenges, Nevada can continue to be a place where entrepreneurship flourishes and economic stability is maintained. Rather than reacting with restrictive measures, policymakers should champion an economic strategy that prioritizes adaptability, encourages investment, and promotes forward-thinking business practices. The decisions made today will determine whether Nevada remains a beacon of economic opportunity or gets weighed down by unnecessary obstacles. Now is the time to ensure that innovation and business agility remain at the forefront of our state’s economic future.
PBM REFORM THE IMPACT OF INACTION
Every day without PBM Reform means more pharmacies close, less access to life-saving medication, and inflated drug costs for patients.
5,800+ PHARMACIES HAVE CLOSED SINCE 2018
3.7 PHARMACIES CLOSE EVERY DAY, AND ACCELERATING
1,338 SHUT DOWN ALONE IN 2023
$7.3B IN ENORMOUS MARKUPS OVER SIX YEARS ON CANCER, HIV AND OTHER DRUGS
800+ ZIP CODES NOW HAVE NO PHARMACIES
71% OF VOTERS PRIORITIZE PBM REFORM
~$300M PATIENT
SAVINGS UNREALIZED SINCE THE LAST CONGRESS
WHAT BIPARTISAN LEADERS ARE SAYING
“We’re going to reduce pricesbecause the middleman makes more money than the drug companies in all fairness to the drug companies. There’s a middleman that nobody even knows who they are.”
President Donald J. Trump
“Congress must pass our comprehensive, bipartisan legislation to reduce out-of-pocket medication costs for seniors, enhance federal oversight and shoreup patients’ access to the pharmacy of their choice.”
Senator Mike Crapo (R-ID), Chairman of the Senate Finance Committee
“Middlemen are right at heart of Americans’ frustration with the health care system: high prices and red tape preventing them from getting the care they need...The Finance Committee overwhelmingly passed legislation to hold PBMs accountable...”
Senator Ron Wyden (D-OR), Ranking Member of the Senate Finance Committee
“PBMs have become powerful middlemen, often driving up drug prices while squeezing independent pharmacies out of the market. It’s the time for Congress to bring transparency and fairness back to the system.”
Representative Buddy Carter (R-GA), Chairman of the Subcommittee on Health
The Cost of Convenience: How Payment Processing Fees Inflate Consumer Prices
RAN Staff Report
WHEN YOU SWIPE YOUR CARD AT checkout—whether for groceries, gas, or a cup of coffee—it feels like a seamless transaction. But behind that tap, dip, or click, a portion of your payment is quietly siphoned away in the form of processing fees—fees that add up across millions of transactions, ultimately increasing the cost of everyday essentials. These transaction fees, levied by the payment processing industry, have grown into a significant and often overlooked expense in retail. In fact, payment networks and financial institutions now earn more from a typical grocery purchase than the grocery store itself. While digital transactions are convenient, they come at a price that is passed down to businesses and consumers alike.
WHY ARE PAYMENT FEES SO HIGH?
The U.S. payment processing landscape is dominated by a small number of major financial institutions and card networks that control
the infrastructure behind transactions. Every time a purchase is made, businesses must pay a percentage of the sale— typically ranging from 2-3% or more—just to process the payment. For large retailers, these fees represent a sizable cost of doing business. For small businesses, which often operate on razorthin margins, the burden can be even greater. And for consumers, these fees translate into higher prices at checkout, as businesses must account for these costs when pricing their products and services.
HOW DOES THIS IMPACT YOU?
Processing fees may seem like a minor issue, but they have a tangible impact on prices, competition, and economic innovation.
Here’s how:
l Higher Costs for Essentials: If businesses paid lower transaction fees, they could pass some of those savings on to consumers, potentially lowering prices on groceries, fuel, and other necessities.
l Small Business Challenges: Independent
retailers, restaurants, and service providers bear the brunt of these fees, limiting their ability to compete with larger chains that can negotiate lower rates.
l Reduced Innovation and Competition: When a handful of financial institutions control payment infrastructure, emerging businesses and fintech companies struggle to introduce alternatives that could reduce costs and improve efficiency.
THE NEED FOR COMPETITION AND REFORM
Many businesses have little choice in how they process transactions, as regulations and outdated policies prevent new players from entering the payments market. Financial technology firms and alternative payment providers have the potential to offer faster, more affordable, and consumer-friendly solutions—but they face significant barriers to competing with established payment networks.
In other countries, increased competition has led to lower transaction
fees and more innovation. European regulators, for example, have taken steps to allow non-bank payment providers to access financial networks, fostering a more dynamic and competitive ecosystem.
A MORE COMPETITIVE FUTURE
By allowing more competition in the payments industry and reducing barriers for new entrants, businesses could gain more control over their transaction costs, potentially leading to lower consumer prices and better service. Regulatory changes that promote fair access to payment infrastructure would encourage innovation, benefit small businesses, and create a more balanced system for all. The next time you check out at the store, consider the unseen costs built into your total. A more open, competitive payment landscape could make everyday purchases more affordable—if we allow innovation to thrive.
Revenue Committees
Nevada’s Assembly Committee on Revenue and Senate Committee on Revenue and Economic Development are responsible for shaping the state’s tax policies and revenue structure. These committees oversee legislation related to sales and use taxes, property taxes, business taxes, and other state and local revenue sources. Additionally, the Senate Revenue and Economic Development Committee examines policies that promote economic growth, business investment, and job creation in Nevada.
Given Nevada’s unique tax structure —relying heavily on sales tax rather than a state income tax—these committees play a critical role in balancing the state’s revenue needs with policies that support a strong business environment. Their decisions directly impact retailers, influencing tax compliance, operational costs, and Nevada’s overall economic competitiveness.
Assembly Committee
Shea Backus - Chair
Venicia Considine - Vice Chair
Reuben D'Silva
Tanya Flanagan
Danielle Gallant
Heather Goulding
Ken Gray
Gregory T. Hafen II
Duy Nguyen
PK O’Neill
Erica Roth
Senate Committee
Dina Neal - Chair
Fabian Doñate - Vice Chair
Michelee Cruz-Crawford
Jeff Stone
John C. Steinbeck
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Judiciary Committees
Nevada’s Judiciary Committees, operating in both the Senate and Assembly, oversee legislation related to the state's legal system, including civil and criminal law, judicial procedures, law enforcement policies, and corrections. These committees play a critical role in shaping laws that impact businesses, consumers, and the broader community by addressing issues such as liability, contract disputes, consumer protection, and regulatory enforcement.
By evaluating policies that affect the legal framework of Nevada, the Judiciary Committees ensure that the state's laws remain fair, effective, and aligned with evolving societal and economic needs. Their decisions can have significant implications for retailers, particularly regarding business liability, employee rights, and compliance with state regulations.
Assembly Committee
Brittney Miller - Chair
Elaine Marzola - Vice Chair
Lisa Cole
Joe Dalia
Cecelia González
Ken Gray
Alexis Hansen
Melissa Hardy
Selena La Rue Hatch
Cinthia Zermeño Moore
Hanadi Nadeem
David Orentlicher
Erica Roth
Toby Yurek
Senate Committee
Melanie Scheible - Chair
Edgar Flores - Vice Chair
James Ohrenschall
Roberta Lange
Rochelle T. Nguyen
Ira Hansen
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Lisa Krasner
John Ellison
AG FORD BATTLES PRICE FIXING, BUT BUSINESSES PUSH BACK
Nevada Attorney General Aaron Ford is taking on price-fixing with a new bill, AB44, aimed at preventing companies from artificially inflating the cost of essential goods and services. The bill expands protections to items like food, shelter, internet, and utilities. However, business groups, telecom giants, and housing organizations strongly oppose it, fearing overreach and unintended consequences. Ford insists the bill won’t cap prices but will target fraudulent price manipulation. Facing fierce pushback, he’s open to amendments, including removing a provision allowing private citizens to sue over price hikes. The battle between consumer protection and business interests is just getting started.
Nevada Independent
SPARKS WEIGHS PRICEY FIX FOR TRAFFIC WOES
As traffic congestion worsens in Northern Nevada, officials in Sparks are pushing for a toll road to connect Spanish Springs to USA Parkway, easing commutes for workers at the TahoeReno Industrial Center (TRIC). The proposed $500
Nevada News
million project, backed by Sparks Mayor Ed Lawson, would be Nevada’s first toll road, funded through driver-paid tolls and possible company contributions. While some businesses support the idea, critics argue it unfairly burdens workers instead of corporate giants like Tesla and Panasonic. With concerns over affordability, fairness, and environmental impact, planners are also considering rail alternatives. The debate over how to fund and manage growth is just beginning.
Nevada Independent
AMAZON-BACKED SELF-DRIVING TAXIS COMING TO LAS VEGAS
A fleet of autonomous taxis from Zoox, an Amazon-backed company, is set to launch in Las Vegas this year, aiming to transform urban transportation. The futuristic, carriagestyle robotaxis seat four passengers facing each other and promise a premium, efficient, and safe ride experience. Riders can book trips via an app, and pricing will be competitive with existing ride services. With advanced safety features like an inverted doublehorseshoe airbag system and rapid decision-making
AI, Zoox hopes to make roads safer. After Las Vegas, the company plans to expand to San Francisco and other dense cities.
AOL News
NEVADA LOOKS TO ‘LOCK THE CLOCK’ AND END DAYLIGHT SAVING TIME
Nevada lawmakers are considering the Lock the Clock Act, a bill that would make standard time permanent and eliminate the biannual clock changes. Sponsored by Assemblymember Selena La Rue Hatch and backed by Senator Robin Titus, the bill highlights health benefits, reduced car crashes, and no real energy savings from Daylight Saving Time. Unlike past efforts, this bill doesn’t need federal approval or coordination with other states. While most testimony supported the change, one pediatrician raised concerns about crime spikes. The bill must pass out of committee by April 11 to move forward. My News 4
NEVADA BRACES FOR POSSIBLE MEDICAID CUTS AMID FEDERAL UNCERTAINTY
Nevada lawmakers are preparing for potential federal Medicaid cuts that could leave a massive budget shortfall
and impact healthcare for 800,000 residents. Governor Joe Lombardo warned that changes could cost the state up to $3.15 billion, straining hospitals and providers. Democrats argue the state must plan for worstcase scenarios, while Republicans insist the cuts are unlikely and that eliminating fraud can cover any shortfall. If federal funding is reduced, Nevada may have to impose work requirements for Medicaid recipients or make deep cuts to services. With billions at stake, the debate over funding healthcare in Nevada is heating up.
8 News Now
ILLEGAL CANNABIS MARKET COSTS NEVADA MILLIONS
Nevada’s illegal cannabis market has ballooned to $242 million, cutting into state tax revenue and school funding. Legal cannabis sales have dropped from $965 million in 2022 to $829 million in 2024, causing a 21% decline in tax revenue. Lawmakers are concerned about unlicensed deliveries, high-potency hemp products, and widespread public consumption. The Cannabis Compliance Board (CCB) says multiple state agencies regulate the
TARIFFS TRIGGER PRICE HIKES
New tariffs imposed by President Donald Trump on Mexico and Canada are set to make everyday items more expensive for American consumers. With a 25% duty on a range of imports, prices on food, beverages, clothing, and household goods could rise by up to 1.63%, costing the average U.S. household around $1,200 per year. Retailers, including Walmart, warn of a tough year ahead, as higher costs trickle down to shoppers, particularly low-income families. The inflationary pressure is already visible, with consumer prices rising at their fastest rate in 18 months. As tariffs take effect, Americans may need to rethink their budgets and spending habits.
Forbes
INSTACART GOES ALL-IN ON AI TO BOOST SHOPPING AND ADS
Instacart is expanding its use of AI across multiple areas, from improving grocery substitutions to enhancing ad revenue. The company is testing AI-powered shelf scanning using worker videos and its Caper Carts to provide real-time inventory data, making online shopping more accurate. AI is also helping personalize product recommendations based
National News
on dietary preferences and powering new advertising tools, leading to a 20% sales boost for brands like Celsius. With AI-driven innovations in search, targeting, and smart carts, Instacart sees this tech as a key driver of growth, with nearly $1 billion in ad revenue in 2024.
Grocery Dive
AMAZON GAINS IN HOME FURNISHINGS AS WALMART STRUGGLES TOKEEP UP
Amazon is gaining ground in the home furnishings market, growing its share to 18.9% in 2024, while Walmart’s has dropped to 7.1%. Experts attribute Amazon’s success to its vast product selection, competitive pricing, and the rise of online shopping, especially post-COVID.
Walmart, despite efforts to attract younger buyers, faces challenges as inflation pressures its core customers. Meanwhile, Amazon is investing heavily in AI and automation to improve efficiency, while Walmart warns of consumer strain due to high food prices and potential tariff impacts on its discretionary goods sales.
PYMNTS
WALMART UPGRADES BABY REGISTRY & LAUNCHES
‘BABY DAYS’ SALE
Walmart is making shopping easier for new and
expecting parents with an upgraded baby registry that offers online, in-app, and in-store access, gift tracking, checklists, a one-year return window, and a free welcome box. Many registry items are available for Express Delivery in as little as 30 minutes or curbside pickup. In addition, Walmart’s ‘Baby Days’ sale is back, running through March 31, 2025, with discounts on essentials like car seats, strollers, and baby monitors. The retailer aims to give parents more convenience and time for precious moments.
Chain Store Age
CREDIT CARD SPENDING SLOWS IN JANUARY AFTER HOLIDAY SURGE
After a December spending spree, consumer borrowing normalized in January, with credit card and other revolving debt rising by $9 billion, a slower pace than the previous month. Overall consumer credit grew at an annualized rate of 4.3%, aligning with historical January trends. While total outstanding consumer credit remains over $5 trillion, credit card debt continues to weigh on 75% of cardholders across all income levels. Meanwhile, buy now, pay later (BNPL) services like Affirm and Sezzle are seeing rapid growth as consumers seek alternative ways to manage spending. Delinquencies on
credit cards also hit 11.5%, highlighting financial strain.
PYMNTS
RETAILERS BET ON AI AND MEMBERSHIPS AS CONSUMERS TIGHTEN WALLETS
Despite economic challenges and cautious consumer spending, retailers are doubling down on AI investments and membership programs to stay ahead. E-commerce sales outpaced overall retail growth in 2024, but shoppers remain selective, leading to struggles for dollar stores and some major retailers facing bankruptcy. To adapt, big-box and home goods retailers are launching paid memberships, leveraging customer data for retail media networks. AI is also transforming the industry. Retailers are phasing out virtual assistants in favor of chatbots and smart search functions, while interest in AR and VR has waned. Social commerce, once a hot trend, is now cooling off, with many retailers pulling back from platforms like Facebook and Instagram. Meanwhile, Amazon continues to dominate, but faces growing competition from Walmart, Temu, and other emerging marketplaces.
Modern Retail
Important Information for SIG Members
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NRNSIG members who wish to register a negative vote on a new group member, please write NRNSIG at 575 S. Saliman Road, Carson City, NV 89701, indicating which member and the reason(s) for the negative vote
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Nevada News
industry, but enforcement gaps remain. Some legislators are pushing for expanded legal sales, including at large events like the Electric Daisy Carnival. With no enforcement reforms planned this session, the debate over controlling illegal sales continues.
8 News Now
NEVADA CONSIDERS
$1.5 BILLION FILM TAX CREDIT, BUT CRITICS PUSH BACK
Nevada lawmakers are debating a $1.5 billion tax credit bill aimed at attracting Hollywood
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to the state. Supported by Warner Bros., Sony, and real estate firm
Howard Hughes, the proposal promises $3 billion in revenue and tens of thousands of jobs, including a new movie studio in Las Vegas. Advocates argue it will diversify Nevada’s economy and provide career opportunities beyond casinos. However, critics, including the Nevada State Education Association, call it a “Hollywood handout” at a time when education funding faces federal cuts. With Republican Governor
National News
RETAILERS RUSH TO UPGRADE PAYMENTS
AS SHOPPERS
DEMAND MORE
A KPMG survey reveals that over half of retailers have modernized their payment systems in the past year, and 80% plan further upgrades to meet changing customer expectations. Nearly 60% of North American retailers cite evolving consumer demands as the main driver for these changes. Retailers are focusing on seamless payment experiences to enhance customer satisfaction, boost efficiency, and gain better insights into shopping behavior. As digital
Joe Lombardo likely to oppose it, the bill’s future remains uncertain.
The Center Square
LOMBARDO PUSHES FOR FEDERAL LAND TO EASE HOUSING CRISIS
Governor Joe Lombardo is urging the federal government to release land for housing development in Nevada, where 88% of Clark County is federally controlled. With a shortage of 78,000 affordable rental units, he argues that land retention limits growth and worsens
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payments, mobile wallets, and contactless options grow in popularity, businesses are racing to keep up with tech-savvy shoppers.
Retail Dive
MACY’S BET ON STORE REVAMPS SHOWS EARLY SIGNS OF SUCCESS
Macy’s turnaround strategy of revamping select stores while closing underperforming ones is showing promise. The company beat Wall Street’s earnings expectations despite missing revenue targets. Its “First 50” stores, which are receiving more investment, outperformed
the housing crisis. Democrats, however, have their own plan, balancing development with conservation and tenant protections. Critics worry about urban sprawl and Indigenous land rights, while experts say zoning and regulations also need reform. Any land release depends on congressional action, with Nevada’s federal delegation working to speed up transactions and introduce new landuse legislation.
Las Vegas Review-Journal
the rest of the company, signaling the plan may be working. Meanwhile, activist investor Barington Capital is pushing for further cost-cutting and real estate monetization to drive profitability. As CEO Tony Spring navigates the retailer’s revival, Macy’s must balance store innovation with financial pressures. CNBC
TARGET AIMS FOR $15B GROWTH BY 2030—BUT CAN IT RECLAIM ‘TARZHAY’ STATUS?
Target is investing up to $5 billion annually in stores, supply chain, and technology to drive
$15 billion in sales growth by 2030. The retailer plans to revamp product offerings, expand its food, beauty, and home lines, and strengthen digital and loyalty programs. However, Target is struggling to win back high-income shoppers, falling behind Walmart in key metrics. Meanwhile, its reputation has taken hits due to shifting stances on social issues, leading to boycotts and consumer backlash. Experts warn that flip-flopping on social values could damage long-term brand loyalty. Forbes
Mary F. Lau President/CEO
Bryan Wachter Senior Vice President
Elizabeth MacMenamin Vice President of Government Affairs
Piper Brown Vice President, Finance and Administration
Megan Bedera Editor
Sue Arzillo, Alphabet Soup Inc. Newsletter Design & Layout
Nevada’s St. Patrick’s Day Festivities to Bring in $68 Million
Holiday Spending Down Slightly from 2024 Record for Nevada
Despite mounting economic pressures, Nevada retailers are gearing up for St. Patrick’s Day celebrations, with holiday spending expected to reach $68.0 million statewide, according to projections from the National Retail Federation (NRF). However, with inflation on the rise, looming tariffs poised to drive up costs, and growing recession concerns, consumer spending is beginning to show signs of caution. Nationwide, 61 percent of consumers plan to partake in traditional Irish-
themed celebrations, with an average spend of $43.64 per person—down slightly from last year’s record-breaking figure. Overall U.S. spending is expected to hit $7.0 billion, a 2.8 percent decline from the previous year.
Sporting the holiday’s signature green remains the most popular tradition, with 79 percent of celebrants planning to dress the part. Preparing a festive meal follows closely behind, with 30 percent intending to cook a special dinner. Many revelers will take the party outside their homes, as 26 percent
expect to celebrate at a bar or restaurant and another 24 percent plan to decorate their homes or offices. Other planned activities include attending a private party (15 percent), marching in a parade (14 percent), or hosting a gathering (11 percent).
With St. Patrick’s Day right around the corner, shoppers are gearing up. Grocery stores are the top destination, with 39 percent planning to stock up on food and drinks there. Discount stores follow, attracting 27 percent of shoppers looking for budget-
friendly supplies. Meanwhile, 19 percent plan to splurge at bars or restaurants, and 17 percent will browse department stores. Online shopping is also in the mix, with 14 percent opting for digital convenience. Small businesses (11 percent), specialty stores (8 percent), clothing retailers (6 percent), and drug stores (6 percent) round out the list of go-to shopping spots for holiday essentials.
Source: National Retail Federation