The National Retail Federation (NRF) has forecast a strong rise in US holiday sales this year, amid a healthy economy and strong consumer sentiment.
Retail sales in November and December will increase 4.3% to 4.8% for a total of between $717.45 billion and $720.89 billion, the organization said last week. The average increase over the past five years was 3.9%, it added.
“We believe that this holiday season will continue to reflect the growth we’ve seen over the past year,” said NRF CEO Matthew Shay. “While there is concern about the impacts of an escalating trade war, we are optimistic that the pace of economic activity will continue to increase through the end of the year.”
In 2017, holiday sales of jewelry comprised 28% of the category’s total sales for the year, the federation said, citing the US Census Bureau.
Image: Holiday gift. (Pexels)