Thanksgiving is still a few weeks away and there’s already a holiday forecast. It’s looking very cheerful for retailers. We are stretching your dollar with a closer look.
A new report shows this year’s holiday sales could grow as much as 4.2 percent compared to 2018. Reaching a possible high of $730 billion. That’s according to the National Retail Federation.
This is a critical time for retailers with November and December sales accounting for 20 percent of annual sales. So, the predicted rise is good news for retailers who saw a small increase of only 2.1 percent last year.
It’s also good news for job seekers. The NRF expects retailers to hire more than 530,000 temporary workers to help with the high demand this holiday season.
Experts credit the rise in holiday sales to job growth and higher wages. And it’s not just brick-and-mortar stores seeing soaring sales. The NRF forecast finds online and other non-store sales are expected to increase as much as 14 percent to nearly $167 billion.
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