National Retail Federation forecasts a $25 billion holiday sales boost, despite truncated shipping timelines

1 month ago 13

Consumers are predicted to spend an additional $25 billion on holiday shopping in November and December compared to 2023, according to The National Retail Federation’s annual holiday forecast released on Tuesday.

According to NRF’s report, holiday sales could grow an estimated 2.5-3.5% to reach $990 billion in sales from November 1 to December 31, 2024. This is up from $964.4 billion spent in the last two months of 2023.

“Consumer spending has been rather stable, often characterized as resilient, but I would say a better adjective might be persistent,” said Jack Kleinhenz, chief economist at NRF, during a press conference Tuesday. “We’ve seen consumers continually support the overall economy throughout most of this year.”

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