The holiday season will be in full swing this week. Black Friday will kick off holiday shopping with major sales at nearly every store in America. And get ready, because forecasters estimate consumers will be spending even more this year than they did last year by more than four percent.
According to the the world’s largest retail trade association, the National Retail Federation (NRF), shoppers will spend an average of $1,007.24. That’s up from the $967.00 estimates of last year’s winter shopping season.
These numbers came from an NRF survey of 7,000 respondents who answered questions in the first half of October.
On the NRF website, The President and CEO of NRF says the holiday spending will be up this year because a very simple answer, the economy is doing well.
“Confidence is near an all-time high, unemployment is the lowest we’ve seen in decades and take-home wages are up. All of that is reflected in consumers’ buying plans. Retailers expect strong demand this year, and are prepared with a wide array of merchandise while offering strong deals and promotions during the busiest and most competitive shopping season of the year.”
