The holidays are coming and experts say Americans will be opening their wallets
Published On Nov 17, 2024, 9:48 AM
Experts predict Americans will spend more on holiday shopping this year, based on various consumer surveys indicating a positive outlook. Surveys reveal that a significant portion of consumers intends to increase their holiday spending by an average of 7% compared to last year. Key findings include a rise in average spending per person and strong consumer sentiment supported by solid household finances, despite concerns about inflation. Overall, consumer spending is projected to reach record levels this holiday season, driven by factors such as improving economic conditions and higher disposable incomes.
Stock Forecasts
XLY
Positive
The increase in holiday spending suggests strong consumer confidence and economic stability, benefiting retail stocks and ETFs. Retailers are likely to experience improved sales and possibly positive earnings reports, driving their stock prices higher in the holiday season. Consumer discretionary sectors will likely outperform as households are willing to spend more this season, contributing to a positive outlook.
AMZN
Positive
The anticipated increase in consumer spending is expected to elevate the performance of large retail chains, particularly those with substantial online sales channels, such as Amazon. As the holiday shopping season approaches, we can expect Amazon’s share price to gain from this spending momentum.
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