RAPAPORT… The National Retail Federation (NRF) has forecast a strong rise in US holiday sales this year, amid a healthy economy and strong consumer sentiment.
Retail sales in November and December will increase 4.3% to
4.8% for a total of between $717.45 billion and $720.89 billion, the
organization said last week. The average increase over the past five years was
3.9%, it added.
“We believe that this holiday season will continue to
reflect the growth we’ve seen over the past year,” said NRF CEO Matthew Shay.
“While there is concern about the impacts of an escalating trade war, we are
optimistic that the pace of economic activity will continue to increase through
the end of the year.”
In 2017, holiday sales of jewelry comprised 28% of the
category’s total sales for the year, the federation said, citing the US Census
Bureau.
Image: Holiday gift. (Pexels)
NRF Predicts Jump in Holiday Sales
The Bottom Line
- NRF projects US holiday retail sales in November and December to reach between $717.45 billion and $720.89 billion, up 4.3% to 4.8%.
- This growth exceeds the average 3.9% increase seen over the past five years.
- Jewelry accounted for 28% of total holiday sales in 2017, highlighting its significant share in seasonal retail.
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