Healthy holiday sales forecasted as consumers navigate economic uncertainty

Nov 10, 2022
Written by WR Communications

Holiday spending is expected to be healthy even with recent inflationary challenges, ending the year with retail sales between 6% and 8% over 2021 and totaling between $942.6 billion and $960.4 billion. Last year’s holiday sales grew 13.5% over 2020 and totaled $889.3 billion, shattering previous records. Holiday retail sales have averaged an increase of 4.9% over the past ten years, with pandemic spending in recent years accounting for considerable gains.

As households face financial challenges, many will supplement spending with savings and credit to provide a cushion and to help make way for a more festive holiday season.

The holiday shopping season started earlier this year, a growing trend in recent years due to shoppers’ concern regarding inflation and availability of products and the need to even out their budgets and avoid the stresses of holiday shopping.

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