People shop at a Gap factory store at the Citadel Outlets in Los Angeles.HAPPY HOLIDAYS• 4.1 percent: Projected increase in holiday sales in November and December over last year, up from the 3.1 percent increase a year ago• 19.2 percent: Share of the estimated $3.2 trillion of retail sales coming in the final two months of the year• 725,000 to 800,000: Number of seasonal workers to be hired for holidaysSource: National Retail Federation
Americans are expected to spend at the highest rate in three years during what’s traditionally the busiest shopping season of the year, according to the nation’s largest retail industry trade group.
But the spending trends that have become prevalent in the years since the Great Recession are expected to continue into the winter holiday shopping season: Industry watchers say shoppers will spend only if there are big discounts. And there will be a huge divide in spending between the haves and have-nots.
“It goes without saying there still remains some uneasiness and anxiety among consumers when it comes to their purchase decisions,” said Matthew Shay, president and CEO of the National Retail Federation. “The lagging economic recovery, though improving, is still top of mind for many Americans.”
Overall, the National Retail Federation said Tuesday that it expects sales during the November and December period to be up 4.1 percent to $616.9 billion, up a percentage point higher than last year. It marks the highest increase since 2011 when the rise was 4.8 percent.