November 4, 2022
. The predictions are for healthy holiday spending this season, despite inflation and consumer’s concern over the economy.
What to expect this season:
Holiday retail sales during November and December will grow between 6% and 8% over 2021 to between $942.6 billion and $960.4 billion
Online and other non-store sales, which are included in the total, will increase between 10% and 12% to between $262.8 billion and $267.6 billion
Consumers plan to spend $832.84 on average on gifts and holiday items such as decorations and food, in line with the average for the last 10 years.
To help handle all this holiday shopping, the NRF reports retailers will hire between 450,000 and 600,000 seasonal workers. That compares with 669,800 seasonal hires in 2021.
Related:Shopping Top Toys for 2022
As
reported last month, one factor that continues to trend upward is the shift to consumers starting their holiday shopping well ahead of Black Friday, the traditional start to the holiday shopping season on the day after Thanksgiving.
“The holiday shopping season kicked off earlier this year – a growing trend in recent years – as shoppers are concerned
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