2024 holiday shopping sales predictions
Adds NRF forecast
Oct 15 (Reuters) -U.S. retailers are gearing up for a shorter-than-usual holiday shopping window this year, with price-conscious shoppers focused on deals and promotions around key events such as Black Friday and Cyber Monday.
Below is a compilation of projections by various data analytics firms:
Source | Forecast | Time period | Geography | Type of spending | Methodology |
Mastercard Economics Institute | Projects retail sales to rise 3.2% | Nov. 1 to Dec. 24 | United States | In-store and online | Measures in-store and online retail sales across all forms of payment, excluding automotive sales |
Deloitte | Expects holiday retail sales to rise between 2.3% and 3.3% | Nov. 1, 2024 to Jan. 31, 2025 | United States | In-store and online | Model for forecasting holiday season sales uses Disposable Personal Income as the explanatory variable |
Adobe Analytics | Online spending to grow 8.4% to $240.8 billion | Nov. 1 to Dec. 31 | United States | Online only | Measures direct consumer transactions online from 5,000 shoppers |
Salesforce | Sees global sales growth of 2% and U.S. sales growth of 2% | Nov. 1 to Dec. 31 | Global and U.S. | Online only | Analyzes data from more than 1.5 billion global consumers on retail sites using its platform |
National Retail Federation | Expects total holiday sales to grow between 2.5% and 3.5% | Nov. 1 to Dec. 31 | United States | In-store, online and non-store sales | Forecast based on economic modeling using various key economic indicators including consumer spending, employment, wages, inflation and excludes automobile dealers, gasoline stations and restaurants |
(Compiled by Anuja Bharat Mistry and Savyata Mishra in Bengaluru; Edited by Shounak Dasgupta)
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