Retail sales are expected to rise more than 4 percent compared to last shopping season, according to Deloitte’s annual retail holiday sales forecast.
Total holiday sales — seasonally adjusted and excluding motor vehicles and gasoline — are expected to reach $1.04 to $1.05 trillion between November and January, Deloitte reported. Deloitte also forecasts an 18 to 21 percent increase in e-commerce sales in 2017 compared with 2016.
E-commerce sales are expected to reach $111 to $114 billion during the 2017 holiday season.
“The projected uptick in holiday sales ties to four primary factors affecting consumer spending, starting with anticipated strong personal income growth,” said Daniel Bachman, Deloitte’s senior U.S. economist. “Last year, disposable personal income grew 2 percent over the year to the holiday period, and we may see that rise to a range of 3.8 to 4.2 percent this season.”
This is partly attributed to elevated consumer confidence and a strong labor market.
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