NRF Forecast Most Optimistic Since Recession
NRF Forecast Most Optimistic Since Recession
Washington, D.C.—Holiday sales this year are expected to increase 4 percent to $586 billion, according to the National Retail Federation (NRF), higher than the 10-year average holiday sales increase of 3.5 percent.
While low job and income growth and an 8 percent unemployment rate could impact holiday sales, the NRF said positive indictors—including increases in confidence and home prices—show a cautious yet capable consumer.
“This is the most optimistic forecast NRF has released since the recession,” Matthew Shay, NRF CEO and president, said. “In spite of the uncertainties that exist in our economy and among consumers, we believe we’ll see solid holiday sales growth this year.”
Uncertainties Shay cited were the upcoming presidential election, confusion surrounding the “fiscal cliff” and concern relating to future economic growth. Despite this, “we are optimistic that retailers’ promotions will hit the right chord with holiday shoppers.”