US Retail Federation Forecasts Record Holiday Sales

October 27, 2021 Business, Economy

Yahoo Finance reports:

U.S. holiday sales could rise over 10% this year, a trade body said on Wednesday, as major consumer goods makers and retailers work to prevent supply chain disruptions from leaving shelves empty of in-demand toys and games.

The National Retail Federation (NRF) forecast sales to increase between 8.5% and 10.5%, to between $843.4 billion and $859 billion, during November and December, compared with a previous high of $777.3 billion last year. The numbers exclude automobile dealers, gasoline stations and restaurants.

Rising income and stronger-than-ever household savings would help people pay more for goods when companies are raising prices to counter inflation, NRF said. It added there is exceptional demand for holiday products, although a survey last week highlighted customers’ worry about availability.

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U.S. holiday sales could hit record levels of over $800 bln – NRF https://t.co/ft4GUsVXoQ pic.twitter.com/dtIHC1wl8t

— Reuters (@Reuters) October 27, 2021