Washington, D.C., Retailers can expect a subdued holiday season this year, according to the National Retail Federation (NRF). It predicts that total holiday sales will increase 5.0% over last year, bringing holiday spending to $457.4 billion. By comparison, holiday sales in 2005 rose 6.1% to $435.6 billion.
“Although sales gains will not be as robust as last year, retailers can still expect above-average holiday sales growth,” said Rosalind Wells, chief economist for the NRF.
Over the last 10 years, the average percentage increases in sales for holiday season has been 4.6%.