Analysts: Most Retailers are in for Happy Holidays
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As the holiday shopping season gets underwayonly 83 days till Christmas!the sales predictions are starting to pour in and there’s not a Grinch in sight. Most reports are as cheerful as the season itself: The trade group the National Retail Federation forecasting a robust 3.6 percent to 4 percent increase in salesexceeding the five-year average of a 3.5 percent riseon Tuesday.
The NRF’s report follows earlier predictions last week by Deloitte, which expects super healthy growth of 4 percent to 4.5 percent over last year, and the International Council of Shopping Centers, which predicted a 3.8 percent rise in consumer spending.
“Across the board, the retail industry is very strong,” says Matthew Shay, president and chief executive of the NRF, noting that brands are making investments in both brick-and-mortar and online to meet consumer demand. “Our forecast reflects that steady momentum both of the economy and industry expectations.” He adds that this year, retailers get an additional day of sales with the 32 days between Thanksgiving on Nov. 23 and Christmas.
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