![]() It raised that forecast earlier this month, saying that spending was on track to grow by as much as 11.5% year over year. It projected that sales in November and December could rise 8.5% to 10.5% from last year to between $834.4 billion and $859 billion. The NRF, a major retail trade group, has doubled down on predictions that holiday spending will hit a record high. About 85% said this month that they plan to gather in groups with friends and family for the holidays, a 3% drop month over month. That's a decline from a survey conducted in November, which showed 55% planned to travel. About half of respondents - 49% - said they plan to travel for the holidays this year. ![]() That showed up in the equity research firm's survey of 960 people on Tuesday. Plus, she said, the omicron variant has fueled "a bummer effect" as some people rethink travel plans, scale back gatherings or get notified about holiday office parties being nixed. So we're trying to solve for, 'What is the consumer ultimately going to do?'" "Right now, there are data points that are conflicting each other. "Usually, all data points are directionally all pointing to a similar outcome," she said. And some industry watchers and retail trade groups, including NRF, have predicted record-breaking holiday sales, even in a year of supply chain challenges and inflation. Retail sales are up, but were weaker than expected in November. Among them, consumer confidence plunged to a 10-year low in November. Steph Wissink, a retail analyst for Jefferies, said retailers and investors are watching for clues, but they tell very different stories. ![]() Personal Loans for 670 Credit Score or Lower ![]() Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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