There's A Ho, Ho, Ho Lotta Shoppin' Going On

Despite ongoing issues with inflation, economists are expecting consumers to set new spending records this holiday shopping season. They attribute this to a “fundamentally healthy” economy, a strong job market and wage growth and holiday spending being “an important tradition” for American families.

Holiday Retail Sales

The National Retail Federation expects holiday sales this year to increase between 2.5% and 3.5% over last year. The NRF defines holiday spending as spending in November and December, with the exception of auto dealers, gas stations and restaurants.

Holiday Spending Plans

Consumers expect to spend about $25 more per person than last year and $16 more than the previous record in 2019.

Where They're Shopping

National Retail Federation officials note that many young people ages 18 to 24 prefer to shop at thrift and resale stores.