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- Retail trade group forecasts healthy holiday sales , some from inflation
The National Retail Federation forecasts U.S. consumers will spend $1.01 trillion in November and December, 4.2% more than a year earlier, with about half the growth coming from higher prices. Last year's holiday sales were $972 billion, up 3.1%. Mastercard forecasts a 5.5% rise from Nov. 1 through Dec. 24, AlixPartners expects 4% to 7%, and Adobe projects U.S. online sales of $275 billion, up 6.7%. Gasoline has risen to an average $4.33 per gallon, according to AAA, from under $3 before the war with Iran, squeezing lower-income shoppers while higher-income shoppers keep spending. Consumers are trading down to cheaper brands, shopping earlier and relying more on credit cards and buy-now-pay-later plans.
- Retail trade group forecasts healthy holiday sales , some from inflation
- Retail trade group forecasts healthy holiday sales, some from inflation
The National Retail Federation forecasts U.S. holiday sales for November and December will reach $1.01 trillion, up 4.2% from last year, though higher gas prices and inflation pressure shoppers. About half of the expected growth comes from higher prices, and higher-income shoppers buoyed by stock market gains are expected to drive much of the spending. Other forecasts include Mastercard's 5.5% increase, AlixPartners' 4% to 7% range and Adobe's projection of $275 billion in U.S. online sales, up 6.7%. Regular gasoline averaged $4.33 per gallon, squeezing lower-income shoppers, who are trading down to cheaper brands and relying more on credit cards.
- Retail trade group forecasts healthy holiday sales, some from inflation
- Retail trade group forecasts healthy holiday sales , some from inflation
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