Holiday Sales Growth Expected to Normalize to Prepandemic Levels

Published On Oct 15, 2024, 1:34 PM

The National Retail Federation forecasts that holiday sales will increase by 2.5% to 3.5% this year compared to last year, reaching up to $989 billion. While this growth is slightly slower than the previous year's 3.8% increase, it aligns with pre-pandemic growth rates. E-commerce sales are expected to rise more significantly, with estimates of an 8% to 9% increase. Despite potential concerns such as inflation and a contentious political environment, strong wage growth is still allowing consumers to spend, albeit more cautiously, with a focus on essentials over discretionary purchases.