Source: Pexels

Source: Pexels
Come on In | Source: Pexels

Many businesses — including local toy stores and specialty retailers — have begun phased reopening across the country, but much uncertainty looms.

Not factoring in the new wave of disruption from the current state of civil unrest being displayed across the country, the National Retail Federation (NRF) says its too soon to start guessing how the U.S. economy will recover.

“Is it possible the worst of the coronavirus pandemic is behind us? Maybe, but we are not out of the woods yet, and uncertainty abounds,” says NRF Chief Economist Jack Kleinhenz in the organization’s June Monthy Economic Review. “Predicting what will happen is even more challenging than usual. While history often helps guide us, previous downturns offer little guidance on what is likely to unfold over the next six to 12 months. There is no user’s manual in which government, businesses, or consumers can find precise solutions for what we are going through.”

NRF notes that the U.S. economy “changed course almost overnight from the longest expansion on record to a historic economic slump” due to the spread of COVID-19.

Recent weeks have presented mixed signals with overall retail numbers hitting record lows despite major gains for the biggest players in the game. Additionally, the U.S. toy industry is experiencing growth in certain categories despite many stores being closed due to the pandemic and product availability being a mixed bag based on region and other variables.

About the author

James Zahn

James Zahn

James Zahn, AKA The Rock Father, is Editor-in-Chief of The Toy Book, a Senior Editor at The Toy Insider and The Pop Insider, and Editor of The Toy Report, The Toy Book‘s weekly industry newsletter. As a pop culture and toy industry expert, Zahn has appeared as a panelist and guest at events including Comic-Con International: San Diego (SDCC) Wizard World Chicago, and the ASTRA Marketplace & Academy. Zahn has more than 30 years of experience in the entertainment, retail, and publishing industries, and is frequently called upon to offer expert commentary for publications such as Forbes, Marketwatch, the Wall Street Journal, the New York Times, USA Today, Reuters, the Washington Post, and more. James has appeared on History Channel’s Modern Marvels, was interviewed by Larry King and Anderson Cooper, and has been seen on Yahoo! Finance, CNN, CNBC, FOX Business, NBC, ABC, CBS, WGN, The CW, and more. Zahn joined the Adventure Media & Events family in 2016, initially serving as a member of the Parent Advisory Board after penning articles for the Netflix Stream Team, Fandango Family, PBS KIDS, Sprout Parents (now Universal Kids), PopSugar, and Chicago Parent. He eventually joined the company full time as a Senior Editor and moved up the ranks to Deputy Editor and Editor-in-Chief.

archivearrow-chevron-downarrow-chevron-left-greyarrow-chevron-leftarrow-chevron-rightarrow-fatarrow-left-blackarrow-left-whitearrow-right-blackarrow-rightarrow-roundedbookscalendarcaret-downclose-whiteclosedocumenteditorial-archiveeyefacebook-squarefacebookfilesgifthamburgerheadinghearthomeinstagram-squareinstagramlatestlinkedin-squarelinkedinmailmedia-inquiresmessagenewsopen-boxpagination-leftpagination-rightpauseplayprintproduct-archiverecent-productssearchsharesort-filterspotifysunteamtiktoktime_purpletimetrendingtvtwitter-squaretwitteryoutube