VSCO - Retail rejoicing with holiday sales forecast to hit record high on strong growth rate

The National Retail Federation predicts the highest holiday retail sales tally ever is on the way. The NRF forecast is for holiday sales to rise 8.5% to 10.5% for the two-month period to between $843.4B and $859B. The predicted rate of increase is much higher than the average increase of 4.4% over the past five years. Online sales are seen jumping 11% to 15% to between $218.3M and $226.2B. "There is considerable momentum heading into the holiday shopping season," notes NRF President and CEO Matthew Shay. "Consumers are in a very favorable position going into the last few months of the year as income is rising and household balance sheets have never been stronger. Retailers are making significant investments in their supply chains and spending heavily to ensure they have products on their shelves to meet this time of exceptional consumer demand." Another surge of COVID or worse-than-anticipated La Nina

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Retail rejoicing with holiday sales forecast to hit record high on strong growth rate