Not To Worry, Holiday Sales Will Be Strong This Year
Despite fears the presidential election will keep people away from shops this holiday season, the National Retail Federation says we should still expect stronger than average sales growth.
The NRF forecasts sales for November and December, excluding autos, gas and restaurant sales, to jump 3.6% to $655.8B, MarketWatch reports. If those figures are right, growth will be well above the 2.5% 10-year average.
"Increased geopolitical uncertainty, the presidential election outcome and unseasonably warm weather are the main issues at play with the greatest potential to shake consumer confidence and impact shopping patterns," says NRF chief economist Jack Kleinhenz. Despite those roadblocks, Jack expects in-store sales to grow and e-commerce to shoot up 7% to 10% this holiday season. [MW]