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International Business Times
International Business Times
Business
Bruce Golding

Holiday Spending Expected To Increase This Year Despite Consumers Acting 'More Cautiously'

Holiday shoppers pose for a selfie in front of Christmas trees in Louisville, Ky., on Dec. 22, 2023 (Credit: Jon Cherry/Getty Images)

America's shoppers are expected to make retailers' days merry and bright this holiday season by "cautiously" increasing their spending over last year, according to the National Retail Federation.

The industry group forecast Tuesday that total sales in November and December would grow between 2.5% and 3.5%, compared to the same period in 2023. That means retailers could ring up $979.5 billion to $989 billion worth of purchases.

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