NRF poll forecasts increased 2014 holiday spending |
Written by Christine D. Johnson | |
Thursday, 16 October 2014 11:03 AM America/New_York | |
The National Retail Federation (NRF) is forecasting holiday sales to increase 4.1%, according to the organization’s Holiday Consumer Spending Survey. Conducted by Prosper Insights & Analytics, NRF’s survey found the average person celebrating Christmas, Kwanza and/or Hanukkah will spend $804.42, up nearly 5% over last year’s actual spending of $767.27. “Retailers have plenty of reasons to be optimistic this holiday season, and one of the most important pieces of evidence is the confidence holiday shoppers are exuding in their plans to spend on gifts for their loved ones,” said NRF President and CEO Matthew Shay. “While not completely throwing caution to the wind, Americans’ frugal spending habits will still be visible this holiday season as they continue to rely on discounts and sales and comparison shop. Consumers will put retailers to the test when it comes to the product mix and value companies can offer today’s shopper who is focused on much more than just price.” |
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