A Few Reasons Why Retailers Expect Robust Holiday Sales
- Posted by ProImprint
- Posted on December 27, 2022
The holiday sales forecast paints a rosy picture in general for retailers. A pleasant weather plus the positive spending pattern of consumers will go a long way in driving the Christmas and New Year sales to an impressive figure.
As NRF predicts a healthy holiday retail sales, there is enough and more for the retailers to feel upbeat. Even when there has been a spike in inflation, holiday spending is likely to be healthy this year. As per the reports of National Retail Federation, holiday retail sales during Nov-Dec will be around $942.6 billion and $960.4 billion. It is 6% – 8% more than what it was last year. Thus, 2022 has in general been a promising year for retailers as the sales for the whole year is likely to be more than $4.86 trillion this year.
Retailers expect a positive holiday season in general; as consumers are likely to supplement their holiday spending with savings and credit to ensure a wonderful holiday experience. Online sales are also well set to register a solid growth; though most households are likely to go back to in-store shopping and a more traditional holiday shopping experience. To cater to the surging holiday crowd, retailers may have to hire between 450,000 and 600,000 seasonal workers this year.
Holiday Shopping starts early
A recent trend among consumers is that most people started their holiday shopping early to enjoy a relaxed shopping. To beat the inflation concerns. 46% of holiday shoppers may plan to shop before November, according to NRF’s annual survey.
Gifts and decorations top the list
In 2022, consumers plan to spend $832.84 on average on gifts and holiday items.
Pleasant weather Forecast
Weather has almost always been a key element in influencing the holiday retail sales. With a pleasant weather forecast in Southwest, Gulf Coast and Eastern Seaboard, which cover a large swath of the U.S. population, holiday shopping is likely to be a lively affair.
Retailers will surely be adopting innovative holiday season promotions including free custom gifts, fun contests, early bird offers and more to draw the biggest pie of the audience towards their stores.
Have a better idea to drive up retail sales during the holiday season? Share your ideas in our comments section.
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