Economics
Total Holiday Spending Seen Rising This Year, Despite Covid-19
- Spending seen climbing 1% to 1.5%, slower than a year ago
- Trend toward online shopping has acclerated amid pandemic
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Retail sales in the U.S. will actually grow this holiday season, according to new projections from Deloitte, despite ongoing economic uncertainty and higher unemployment brought on by the global pandemic.
Underpinned by e-commerce, spending will increase 1% to 1.5% in the November through January period, Deloitte said in a statement, with the total seen around $1.15 trillion. Growth at that rate would represent a slowdown from last year, which saw sales rise 4.1%, according to the National Retail Federation.