Holiday Sales Predicted to Rise by 2 Percent This Year

Holiday Sales Predicted to Rise by 2 Percent This Year

Holiday Sales Predicted to Rise by 2 Percent This Year

Despite the recent economic downturns, some slow growth in the country’s economy should stimulate a small increase in this year’s holiday sales according to retail group Deloitte. Continuing difficulties in the job and housing market will restrict the spending of consumers, but a 2 percent increase over last year may be seen between November and January.

Reducing debt and increasing the amount of savings, as well as limits on credit cards and loans for holiday gifts, are keeping the sales of holiday supplies and gifts low over the past few years. Last year only saw a 1 percent gain over the previous year’s holiday sales, but this year should add an additional percent. Deloitte has estimated that total sales this holiday season will reach $852 billion.

Sales outside of traditional retail stores, such as online sales, are going to create most of the increase. Non-retail store sales are predicated to rise by 15 percent over last year, with two-thirds of all of those sales coming from online websites and retailers. The other non-retail store sales will come from mailing catalogs and TV shows.

The experts with Deloitte say that the ease and convenience of online shopping are the main reason this venue continues to grow each year, even when other retail sales are down. Social network shopping and advertising plans are also improving consumer response to online stores. Creating tight integration between their online portals and advertising campaigns and their retail locations will help store owners drive sales to both venues.

Staying in the mind of the consumers and building connections with their consumer base is also key for improving this year’s holiday sales. Retailers are beginning to rebuild their inventories after large reductions due to slow sales, and this should also help increase their sales this year.


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