April 6, 2018
Holiday spending in November and December is expected to top between $678.75 billion and $682 billion.
Total spending for the two months is expected to top between $678.75 billion and $682 billion, up 3.6 percent and 4 percent, respectively, from last year’s $655.8 billion. This year’s forecast would also meet or exceed last year’s growth of 3.6 percent and the five-year average of 3.5 percent.
This year, Christmas falls 32 days after Thanksgiving (one day more than last year) and is on a Monday, giving consumers an extra weekend day to finish their shopping.
In addition, the NRF believes the recent hurricanes will not have a significant long-term effect on the economy; however, the organization issued this year’s forecast as a range rather than the usual fixed percentage because the impact of the storms on economic indicators has made it difficult to make a more precise forecast.
“Our forecast reflects the very realistic
Read more about:
Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes, it’s completely free.