NRF, Shop.org Predict 4.1 Percent Gain in Holiday Sales

WASHINGTON-Holiday sales this year should rise 4.1 percent to $586.1 billion, according to a forecast from the National Retail Federation and shop.org, the online digital retail website.

The predicted increase is more than the 10-year holiday average sales increase of 3.5 percent. Holiday sales in 2011 gained 5.6 percent over 2010. Matthew Shay, NRF's president and CEO, said this year's forecast is the most optimistic from the two organizations since the beginning of the recession.

The joint statement from the two organizations said the forecast is tempered by "unimpressive job and income growth and an unemployment rate stuck at 8 percent. However, positive indicators are emerging that show a cautious but capable consumer, such as increases in confidence and home prices."

In addition, shop.org projected that online holiday sales will jump 12 percent over the 2011 holiday season, totaling as much as $96 billion. "Online retail has been a bright spot for years, and we don't expect that trend to change anytime soon, especially with the growth in mobile," Shay said.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.