NRF Forecasts 5% Growth in Holiday Season Retail Sales

The National Retail Federation (NRF) forecasts retail sales during the holiday season will be about average, saying total holiday retail sales are expected to increase 5 percent over last year, bringing November-December spending to $457.4 billion. In comparison, holiday sales in 2005 rose 6.1 percent to $435.6 billion.

Over the last ten years, the average percentage increase in sales for the holiday season is 4.6 percent. One-fifth of retail industry sales (19.9 percent) occur during the holiday season, making it the most important time period of the year for the industry.

“Consumers have faced a number of economic challenges this year and have taken them in stride,” said NRF Chief Economist Rosalind Wells. “Although sales gains will not be as robust as last year, retailers can still expect above-average holiday sales growth.”