Expect a more subdued holiday shopping season
Staff reports

The nation’s leading retail trade association reported retailers this coming holiday season  “can expect a more subdued” season.

The National Retail Federation reported in late September they predict total holiday retail sales will be up by five percent over last year, bringing holiday spending to $457.4 billion.

Holiday sales last year rose 6.1 percent to $435.6 billion, the federation reported.

“Consumers have faced a number of economic challenges this year and have taken them in stride,” NRF Chief Economist Rosalind Wells was quoted as stating on the federation’s Web site.

“Although sales gains will not be as robust as last year, retailers can still expect above‑average holiday sales growth,” he said.

The federation defines the holiday season as the period that covers November and December.

Over the last ten years, the average percentage increase in sales for the holiday season is 4.6 percent. One‑fifth of retail industry sales (19.9%) occur during the holiday season, making it the most important time period of the year for the industry.

“Consumers make small sacrifices all year so they can splurge a little during the holidays,” said NRF President and CEO Tracy Mullin. “If gas prices continue to fall, shoppers will find a little something extra in their wallets, giving them even more reason to celebrate.”