Holiday spending projected to hit new record this year

Published On Oct 15, 2024, 2:50 PM

The National Retail Federation projects that holiday spending will reach between $979.5 and $989 billion this year, marking a growth of about 3.5% compared to last year. This increase is attributed to the rise in e-commerce, which is expected to account for nearly $298 billion of total sales. Despite a shorter shopping season and economic pressures, consumers' household finances appear stable, although spending is expected to be more cautious. The prevalence of discounts and 'buy now, pay later' services will likely boost online spending significantly this holiday season.

Read full article

Stock Forecasts

AMZNView AMZN chart on TradingView

Positive

With holiday spending projected to break records, particularly in e-commerce, companies heavily reliant on online sales could benefit. Retail stocks, especially those in e-commerce like Amazon, might see a positive trend.

TGTView TGT chart on TradingView

Positive

Consumer-facing retailers who adapt to cautious spending, such as Target, may perform well during this shopping season. Their ability to attract consumers who are looking for value will be key.

XRTView XRT chart on TradingView

Positive

Given the growth in the retail sector, retail ETFs, such as XRT which focus on various retail stocks, are also positioned to benefit from the overall increase in consumer spending.

Related News

Holiday Sales Growth Expected to Normalize to Prepandemic Levels

Oct 15, 2024, 1:34 PM

Despite shoppers’ election-year concerns and worries about the economy, retail executives predict sales to increase as much as 3.5 percent over last year’s holiday season.

AMZN

Attention Kmart Shoppers: It’s Closing Time

Oct 14, 2024, 5:40 AM

As the last full-size Kmart in the continental United States prepares to close, shoppers reminisced about the store that once sold everything, everywhere.

WMT
TGT

How Amazon changes local economies when it moves in

Oct 12, 2024, 12:00 PM

At the company’s Delivering the Future event held this week in Nashville, Amazon highlighted its presence in Music City.

AMZN