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NRF remains optimistic about US holiday sales

24-11-2020

 

United States retail sales in November and December are expected to climb between 3.6 percent and 5.2 percent to a total between US$755.3 billion and US$766.7 billion, the National Retail Federation (NRF) forecasts.

 

“Consumers have shown they are excited about the holidays and are willing to spend on gifts that lift the spirits of family and friends after such a challenging year. We expect a strong finish to the holiday season, and will continue to work with municipal and state officials to keep retailers open and the economy moving forward at this critical time,”NRF president and CEO Matthew Shay said.

 

There is a dip in preference on gifting and receiving jewellery. 18 percent customers plan to buy jewellery, a two percent drop from last year. Three percent fewer Americans have jewellery on their gift wishlists.

 

The trade body expected more Americans will shop online during holiday season and online sales will make up of a quarter of total holiday sales. 42 percent consumers said they would start their holiday shopping earlier than usual this year and 59 percent had begun by early November amidst the pandemic.

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