We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Dispatches
      • Empowering Your Performance Edge
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Dispatches
      • Empowering Your Performance Edge
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
Home » Holiday sales forecast calls for increase of 4.3 to 4.8 percent over 2017 levels
newsworthy

Holiday sales forecast calls for increase of 4.3 to 4.8 percent over 2017 levels

October 5, 2018
DC Velocity Staff
No Comments

Holiday retail sales are expected to be slightly higher than last year as robust consumer spending outweighs concerns about the economic impact of an escalating trade war, according to a peak season forecast released Wednesday by the National Retail Federation (NRF).

Holiday retail sales in November and December—excluding automobiles, gasoline and restaurants—are on track to increase between 4.3 and 4.8 percent over 2017 for a total range of $717.45 billion to $720.89 billion, the NRF said. The forecast compares with an average annual increase of 3.9 percent over the past five years.

Holiday sales in 2017 totaled $687.87 billion, a 5.3 percent increase over the year before and the largest increase since the 5.2 percent year-over-year gain seen in 2010 after the end of the Great Recession, the industry group said.

"Last year's strong results were thanks to growing wages, stronger employment and higher confidence, complemented by anticipation of tax cuts that led consumers to spend more than expected," NRF Chief Economist Jack Kleinhenz said in a release. "With this year's forecast, we continue to see strong momentum from consumers as they do the heavy lifting in supporting our economy. The combination of increased job creation, improved wages, tamed inflation, and an increase in net worth all provide the capacity and the confidence to spend."

The strong forecast is also reflected in retailers' hiring practices for the busy holiday season. Even with the increasingly tight labor market, retailers have been hiring extra staff to help meet the demand expected during November and December. As part of its forecast, NRF expects retailers to hire between 585,000 and 650,000 temporary workers this holiday season, up from last year's 582,500.

"Thanks to a healthy economy and strong consumer confidence, we believe that this holiday season will continue to reflect the growth we've seen over the past year," NRF President and CEO Matthew Shay said in a release. "While there is concern about the impacts of an escalating trade war, we are optimistic that the pace of economic activity will continue to increase through the end of the year."

KEYWORDS National Retail Federation
  • Related Articles

    Consumers to spend 4 percent more this holiday season, NRF survey shows

    Sea container imports seen growing 7 percent in 2017, NRF-Hackett report says

    Sea container imports expected to grow 4.9 percent in first half of 2018, NRF-Hackett report says

Recent Articles by DC Velocity Staff

ATA cheers court ruling upholding looser hours of service caps

Carry (or at least measure) that weight

December cargo volume up in Houston, Oakland

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Cold chain giant Lineage Logistics buys its own rail operator

  • For container lines and ports, what a difference a year makes

  • Outlook 2021: What’s in store for logistics supply chain?

  • Capacity challenges will continue in 2021

  • Shippers brace for tight capacity trend to continue in 2021

Now Playing on DCV-TV

2mw 01 11 21 thumb

Ocean Sector Shaping the Next Shipageddon

DCV-TV 4: Viewer Contributed
If you're a shipper, it's never good when a rep for an ocean carrier tells you, "You better sit down before you read this." We've been seeing astoundingly high increases in the ocean sector and they seem to have staying power. While the ocean carriers used blank sailings last year to tip the balance of supply and...

FEATURED WHITE PAPERS

  • Proven Benefits: A Compendium of Slotting Optimization Success Snapshots

  • Bridging Information Gaps in Dock and Yard Operations

  • How Intelligent Sensor Solutions Turn Data Into Action

  • Order picking Solutions: Understanding Your Options

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2021. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing