Holiday Sales Predicted to Hit $586 Billion
October 03, 2012
According to the National Retail Federation’s (NRF) 2012 holiday forecast, sales are expected to increase 4.1 percent to $586.1 billion this year. This projection is higher than the 10-year average holiday sales increase of 3.5 percent.
“This is the most optimistic forecast NRF has released since the recession,” said Matthew Shay, NRF’s president and CEO. “In spite of the uncertainties that exist in our economy and among consumers, we believe we’ll see solid holiday sales growth this year.”
Additionally, according to Shop.org’s 2012 holiday sales forecast, online sales are expected to grow 12 percent over last holiday season to as much as $96 billion.
“Online retail has been a bright spot for years and we don’t expect that trend to change anytime soon, especially with the growth in mobile,” said Shay. “Aside from the convenience, shoppers look to the holiday season to take advantage of retailers’ increased digital offerings.”