Home Business US Retailers Association expects sales to hit a new high this year in the holiday season | National Retail Federation of America | NRF | Christmas

US Retailers Association expects sales to hit a new high this year in the holiday season | National Retail Federation of America | NRF | Christmas

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[Epoch Times October 28, 2021](Epoch Times reporter Li Xin comprehensive report) NRF, the largest retail trade organization in the United States, predicted on Wednesday (27th) that despite a series of unfavorable factors such as supply chain disruption, inflation and labor shortages , The United States’ holiday season sales this year will still hit a record high.

The National Retail Federation (NRF) said on Wednesday that it is estimated that in November and December, national retail sales will increase by 8.5% to 10.5% compared to 2020, and total sales will reach US$843.4 billion to US$859 billion. . In contrast, sales in 2020 increased by 8.2% to 777.3 billion US dollars.

These figures do not include car dealers, gas stations and restaurants.

This will mark the United States’ holiday season sales breaking historical records and surpassing last year’s record. In the past five years, retail sales during the holiday season have grown by an average of 4.4%.

NRF President and CEO Matthew Shay (Matthew Shay) said, “The momentum into the Christmas shopping season is quite strong.”

NRF pointed out that as companies raise wages for employees to cope with inflation, people’s incomes have increased, and households have saved more than ever before and can also pay for more goods.

The organization also added that although a survey last week highlighted consumer concerns about supply issues, shopping demand during the holiday season is still very strong.

“If the retailer can keep the goods on the shelves, and the goods are on the shelves before Christmas, this may be an excellent holiday sales season.” NRF chief economist Jack Kleinhenz (Jack Kleinhenz) said.

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NRF also said that as international tourists who have been fully vaccinated can visit the United States from November 8, sales in the United States will also be further boosted.

“This will have an impact on the retail industry, because in the United States, there is a high correlation between international travelers and the tourism industry and retail sales.” Shay told reporters.

Shay pointed out that this year, American consumers have been vaccinated against COVID-19 and are used to living during the epidemic. In addition, because the government provides relief funds for the epidemic and has more time to stay at home, people have additional funds. These are also helpful for shopping during the holiday season.

He acknowledged that there are supply chain obstacles and labor shortages, but said that retailers have made plans in advance to ensure that they have enough inventory for sale.

“It’s not that there are no resistance and challenges, but despite this, we still have great confidence that consumers will continue to promote economic development in the last quarter of this year.” He said in a call with reporters.

He said that in some cases, people may have to buy items that are different from their wishes, but this will not reduce their shopping enthusiasm.

“They will definitely go shopping during the holiday season, and they will not return empty-handed.” Shay said. “No matter what, they will shop, they will buy, they will find that item.”

Editor in charge: Ye Ziwei#

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