Dig this:
“In an email to The Huffington Post, an NRF spokeswoman called Ritholtz’s piece an “annual temper tantrum” that was “slanted, flawed and predictable,” and compared it to “such holiday traditions as the Grinch and the threat of coal in one’s stocking.” The NRF did not cite any inaccuracies in Ritholtz’s column, nor did it provide any substantive criticism of his views or mine.
The NRF noted it reached out to Ritholtz about his criticism of the survey last year, but that he did not respond.”
First, I love that the NRF is all pissy at me. That’s pretty awesome. (Speak to your colleagues at the NAR — they can share some stories with you).
Second, this has nothing to do with being a grinch. It is instead a criticism of an industry trade group that has consistently relied on a deeply flawed methodology to push a narrative that, while never in doubt, is often always wrong.
Third, about that track record:
So much wrong
In sum, my “slanted, flawed and predictable” analysis is that NRF announcements are self-serving PR spin, wildly inaccurate, with no correlation to actual sales, that serve only to mislead investors, while whipping consumers into a frenzy of materialism.
Other than that, I have no beef with them . . .
Previously:
Black Friday’s Guesswork Gloom (Dec 1, 2014)
Retailing’s Black Friday Hoax (Nov 26, 2014)
Sources:
• Commerce Department Advance Monthly Sales for Retail and Food Services
• NRF Annual Holiday Survey
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