Forecasting the Impact: How Elections and Hurricanes Will Shape Retail Spending

Experience the magic of Macy’s at Herald ⁤Square in ⁣New York City on December‌ 11, 2023.

Capture ‍the essence of the holiday season amidst⁢ a backdrop of uncertainty for retailers.

Various factors such‍ as unpredictable weather, election distractions, and a focus on finding deals will⁣ impact consumer spending as they search for the perfect gifts. With fewer days between Thanksgiving ⁣and Christmas this year, shoppers are feeling the pressure to make their purchases.

Despite⁢ these challenges, there is a sense of optimism among retailers as shoppers are more optimistic and willing to spend compared to ‌last year. According to ⁤surveys by Deloitte and the ‍National Retail Federation, holiday spending is expected to increase by‌ 2.5% to 3.5% from last year, reaching up to $989 billion.

2024-10-19 ⁣08:00:01
Article from www.cnbc.com