NRF Projects 'Subdued' Holiday
October 2, 2006,
Washington — The National Retail Federation is predicting 5.0% growth in retail sales during the holiday season, which NRF defines as the months of November and December.
“Consumers have faced a number of economic challenges this year and have taken them in stride,” said NRF chief economist Rosalind Wells. “Although sales gains will not be as robust as last year, retailers can still expect above-average holiday sales growth.”
Over the last ten years, the average percentage increase in sales for the holiday season is 4.6%. The association said one-fifth of retail industry sales occur during the holiday season.