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Boost Holiday Sales
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FAQs online signature
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Are holiday sales up or down?
WASHINGTON – U.S. Census Bureau data released today shows that core retail sales during the 2023 holiday season grew 3.8% over 2022 to a record $964.4 billion, easily meeting the National Retail Federation's forecast despite continued inflation and high interest rates, NRF said.
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What are the projections for Christmas sales?
The major trade group expects sales in November and December to rise by 3% to 4% year over year. That would translate to between $957.3 billion and $966.6 billion in spending during the shopping season. The NRF's forecast excludes spending at automobile dealers, gasoline stations and restaurants.
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What is the outlook for holiday retail sales?
WASHINGTON – The National Retail Federation today forecast that holiday spending is expected to reach record levels during November and December and will grow between 3% and 4% over 2022 to between $957.3 billion and $966.6 billion. “It is not surprising to see holiday sales growth returning to pre-pandemic levels.
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How much do sales increase during the holidays?
Average sales growth during the holiday season was 3.6% from 2010 to 2019, ing to NRF data. Those year-over-year gains shot up during the Covid-19 pandemic, as sales surged 9.3% in 2020 and 13.5% in 2021.
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How to boost sales during holiday season?
Host festive events that connect your business to the season. You can drive traffic to slower nights depending on when you schedule events. Consider teaming up with a partner who strengthens your offering and who could bring in cross-traffic from their business so you can both build your customer bases.
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What is the forecast for holiday sales?
This year, we are forecasting that total end-of-year holiday retail sales in the US will reach $969 billion, reflecting a 4.3% year-over-year (YoY) increase. This annual growth rate is slightly lower than last year, but it surpasses the average that we observed in pre-pandemic years from 2014 to 2019.
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Are there sales after the holidays?
Winter clothing, electronics, holiday decorations, fitness products, and toys typically go on sale after Christmas. You can also find discounts on food, such as holiday candy and baked goods.
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What is the retail sales forecast?
The National Retail Federation said Wednesday that it expects retail sales will reach between $5.23 trillion and $5.28 trillion this year. The 2024 forecast is roughly in line with the 10-year pre-pandemic average annual sales growth of 3.6%.
