As the holiday season approaches, the United States is preparing for its busiest shopping days, and all eyes are on consumer spending trends. The National Retail Federation has released a forecast indicating that holiday spending in 2024 could grow by as much as 3.5% compared to last year. This anticipated increase translates to over $980 billion in spending across November and December.
This significant projection highlights the optimism surrounding the upcoming shopping season. Retailers are gearing up to meet the demands of consumers who are eager to make the most of holiday promotions and gift-giving traditions.
The expected surge in spending underscores the importance of the holiday period for the U.S. economy. The influx of consumer activity during these months not only drives sales figures but also sets the tone for economic momentum into the new year.
As shoppers prepare their lists and mark their calendars, the 2024 holiday shopping season promises to be a dynamic and influential time for both consumers and businesses alike.
Reference(s):
cgtn.com
