Despite high inflation and lingering recessionary fears, consumer sentiment remains strong. As per the National Retail Federation, holiday spending is expected to be healthy even with economic challenges. The holiday retail sales between November and December would grow between 6% and 8% over 2021 to between $942.6 billion and $960.4 billion.
NRF President and CEO Matthew Shay said, “In the face of the recent challenges, many households will supplement spending with savings and credit to provide a cushion and result in a positive holiday season.”
