"With several months of solid retail sales behind us, we're heading into the all-important holiday season fully expecting to see healthy growth," said NRF President and CEO Matthew Shay. "However, while economic indicators have improved in several areas, Americans remain somewhat torn between their desire and their ability to spend; the fact remains consumers still have the weight of the economy on their minds, further explaining the complex retail spending environment we are seeing right now. We expect families to spend prudently and deliberately, though still less constrained than what we saw even two years ago."
“Potential disruptions from yet another government shutdown in mid-December and a slower pace of job creation and income growth are just a few key factors that will impact holiday shoppers’ spending this year,” said Shay. “Price, value and even timing will all play a role in how, when, where and why people shop over the holiday season. Retailers will be competitive not only on price but on digital initiatives, store hours, product offerings and much more.”
Holiday sales in 2014 increased 4.1 percent over the previous year.
