Holiday Sales Predicted to Hit $602.1 Billion
October 04, 2013
According to the National Retail Federation’s (NRF) 2013 Holiday forecast, sales are expected to increase 3.9 percent to $602.1 billion this year. This year’s forecast is higher than the 10-year average holiday sales growth of 3.3 percent.
“Our forecast is a realistic look at where we are right now in this economy—balancing continued uncertainty in Washington and an economy that has been teetering on incremental growth for years,” said NRF President and CEO Matthew Shay. “Overall, retailers are optimistic for the 2013 holiday season, hoping political debates over government spending and the debt ceiling do not erase any economic progress we’ve already made.”
According to NRF, the holiday season can account for anywhere from 20 percent to 40 percent of a retailer’s annual sales, and accounts for approximately 20 percent of total industry annual sales.
Additionally, Shop.org recently released its 2013 online holiday sales forecast, expecting sales in November and December to grow between 13 percent to 15 percent over last holiday season to as much as $82 billion.