With the holidays just about two months away this is what the economists are preaching for holiday shopping this year:
The report predicts that holiday sales, from November 2023 to January 2024 will reach between $1.54 trillion and $1.56 trillion. The projections represent more moderate growth than last year when holiday sales increased 7.6% and reached $1.49 trillion,
In 2022, holiday sales grew by 7.6% in the same period. Deloitte also forecasts e-commerce sales will grow between 10.3% to 12.8%, year-over-year, during the 2023-2024 holiday season in e-commerce sales.
No surprise as many retailers are going or referring their loyal customers to their website.
The most sought-after gifts seem to be electronic, from indoor security cameras to ab maximizers to lighters. Basically, all the gifts you wouldn’t buy for yourself.
Summary:
Scoops says keep in mind to have two things prepared for your shopping;
- A budget to prevent you overspending.
- A lock tight gift list which will prevent you from impulse shopping.
Scoops will continue to blog about spending in the upcoming months as 70% of retail spending for the year takes place for the next two and a half months.
Regards,
John Gouley, Creator