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19/12/2011 -
Retailers may enjoy even more sales this holiday shopping season than originally projected, as the National Retail Federation has revised its holiday sales forecast in light of a strong showing so far this season.According to a report released this week by the NRF, this year's holiday retail sales are expected to grow by an estimated 3.8 percent over last year, up considerably from the 2.8 percent that the NRF originally projected. It's also much higher than the 2.6 percent year-over-year increase averaged over the past 10 years.
"After strong sales reports in October and November, along with a successful Black Friday weekend, retailers are cautiously optimistic that this season will turn out better than initially expected, bringing added stability to our recovering economy at a time when America needs it most," said Matthew Shay, president of the NRF, in a news release.
However, Shay added, the looming debt crisis in Europe, as well as political gridlock in Washington, may impact real holiday spending from its true post-recession potential.
Nonetheless, merchants should incorporate marketing strategies and payment systems to meet rising consumer demand.
