Retail Sales In The United States Will Increase By 2.3% During The Holiday Season.
US retailers
The National Retail Federation (NRF) released a report on Wednesday that it expects retail sales in the holiday shopping season to increase by 2.3% this year, the best holiday season in 4 years, as retailers launch promotional activities to attract consumers to buy clothes and electronics.
The National Retail Federation predicted in its report that in November and December this year,
Holiday shopping
In the season, retailers' sales will reach $447 billion 100 million, an increase of 2.3% over 2009, the highest increase since 2006's 3.1% increase.
In mid 2009, retailers' sales increased by 0.4% during the holiday shopping season and 3.9% in 2008.
The worst since the great depression.
Economic recession cycle
Consumer spending has been cutting spending, but consumers are already restarting their purchases as the economy has begun to recover.
Matthew Shay, chairman of the US Retail Federation, said retailers will use planned promotions to boost sales growth.
"This holiday season is hopeful because we are already in a much better position than in the past two years," Matthew Shaw said in a telephone interview yesterday.
We are moving in the right direction and looking forward to the sustained economic recovery process. "
He also pointed out: "consumers want to feel at least temporarily feeling that everything has returned to normal during the holiday season, which is almost certainly a season of emotional buying."
Retail sales growth this holiday shopping season will still be lower than the average of 2.5% in the last 10 years, according to the forecast of the National Retail Federation.
Generally speaking, the holiday shopping season is the biggest shopping season for American retailers.
According to the data released by the US Department of Commerce, the US economic growth rate increased by 1.7% in the second quarter, slowing down compared with the growth rate of the previous two quarters.
The National Retail Federation will make use of retail sales data excluding cars, petrol and restaurants when it comes to statistical reports.
The International Shopping Center Association (ICSC) released its report in October 1st, saying that the same store sales of US retailers will increase by 3% to 3.5% during the holiday shopping season this year, the best performance since 2006.
Mike Niemira, chief economist of the association, predicted that the growth rate of US retailers in November and December would be about 3.5% year-on-year, consistent with the growth rate so far this year so far in November.
The International Shopping Center Association tracks the same store sales data of more than 30 chain store operators.
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