The National Retail Federation (NRF) forecast that holiday spending is expected to reach record levels during November and December and will grow between 3% and 4% over 2022 to between $957.3 billion and $966.6 billion.
“It is not surprising to see holiday sales growth returning to pre-pandemic levels,” NRF President and CEO Matthew Shay said. “Overall household finances remain in good shape and will continue to support the consumer’s ability to spend.”
Despite a slower growth rate compared with the past three years, when trillions of dollars of stimulus led to unprecedented rates of retail spending during the pandemic, this year’s holiday spending is consistent with the average annual holiday increase of 3.6% from 2010 to 2019.
Online shopping has been one of the biggest shifts in consumer behavior from the COVID-19 pandemic. Online and other non-store sales, which are included in the total, are expected to increase between 7% and 9% to a total of between $273.7 billion and $278.8 billion. That figure is up from $255.8 billion last year.
To meet the demand of the holiday season, NRF expects retailers will hire between 345,000 and 450,000 seasonal workers, in line with 391,000 seasonal hires in 2022. Some of this hiring may have been pulled into October to support retailers’ holiday buying events in October.
Offical Facebook account of heerazhaveraat.com, homepage for Trade News, Articles and Promotion of D
Heartiest congratulations to Team GJC on acquiring our own office. This marks a new milestone for the team. Wishing you greater success and many more achievements ahead 💐💐
4
Congratulations to Team GJC on the inauguration of the new office. Best wishes from Team Heera Zhaveraat.
Read more:
https://heerazhaveraat.com/gjc-inaugurates-new-office-welcomes-economic-measures-and-presents-structured-roadmap/
Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
