NRF SEES HOLIDAY SALES INCREASING 4.1% THIS YEAR TO $586B
(The following is a reformatted version of a press release issued by The National Retail Federation and received via electronic mail. The release was confirmed by the sender.)
NRF CEO: “Thanksgiving Shopping Quickly Becoming Holiday Tradition for Millions of Americans”
Washington, November 23, 2012 - Even the post-turkey coma couldn’t keep a good shopper down last night as millions of people across the country lined the sidewalks late Thursday night and by midnight on Black Friday to stock up on discounted toys, laptops, tablets, apparel, and more.
“Like pumpkin pie and football, Thanksgiving Day shopping is quickly becoming a holiday tradition for millions of Americans,” said NRF President and CEO Matthew Shay. “Steady streams of shoppers have already flooded outlets, malls and other stores throughout the country and shopped online from the convenience of their couch to kick off the holiday season; it’s evident retailers’ promotions have really struck a chord with those looking for the perfect gift - either for themselves or for others.”
NRF estimates that holiday sales will increase 4.1 percent this year to $586 billion. NRF’s holiday sales forecast is based on an economic model using indicators like housing data, unemployment and previous monthly retail sales reports and includes retail industry sales from November and December.
NRF will release the results of its Black Friday survey on Sunday, November 25 around 1:30 p.m. ET, with President and CEO Matthew Shay hosting a special media briefing at 2:30 p.m. ET Sunday to discuss those results. NRF experts will discuss where people shopped over the weekend, what time they started shopping, how much they spent, what influenced their purchases and how many people are expected to shop online on Cyber Monday. If you are a member of the press or an analyst, RSVP for the call by emailing firstname.lastname@example.org or Shari Brown, email@example.com. (Calls will be monitored to only allow accredited reporters, editors, writers and analysts. We will be recording the call and will have audio available on NRF’s website by Monday morning for those unable to listen in at 2:30 p.m.)
As the world’s largest retail trade association and the voice of retail worldwide, NRF represents retailers of all types and sizes, including chain restaurants and industry partners, from the United States and more than 45 countries abroad. Retailers operate more than 3.6 million U.S. establishments that support one in four U.S. jobs - 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s Retail Means Jobs campaign emphasizes the economic importance of retail and encourages policymakers to support a Jobs, Innovation and Consumer Value Agenda aimed at boosting economic growth and job creation. www.nrf.com.