Despite the Economic Strain of the Pandemic, Holiday Retail Sales are Expected to Grow

+ more

 

Despite a rough economic year for everyone, retail sales during the holidays are expected to keep pace, even surpass, growth trends of previous years. According to the Associated Press, the National Retail Federation made this prediction recently to account for the uncertainty of shutdowns caused by the pandemic. For essential businesses like big-box stores, sales growth during lockdown averaged 6.4% gain while non-essential stores forced to shutter during quarantine suffered a severe drop.

MarketScale Radio explores the current state of retail and consumer spending with hosts Daniel LItwin and Tyler Kern. Litwin looks at the unemployment numbers and puzzles where consumer dollars will enter the economy. Kern considers the retail giants that have pivoted to e-commerce and delivery. Regardless, the trickle-down benefits of holiday spending may not show up in local economies due to the success of big box stores and online shopping.

KEY POINTS:

  • NRF predicts sales for the November and December period will increase between 3.6% and 5.2%
  • Big Box stores see over 6% growth in sales during COVID lockdown.
  • Lack of spending on travel and entertainment leaves some discretionary income for holiday spending.

Latest

On a Roll: The Right Adhesives for Roll Coating in Mattress Manufacturing
April 20, 2021
On a Roll seeks to answer the questions of, “Why roll coat?” and, “What adhesives should mattress manufacturers use?” Sharing his expertise is Steve Adams, Business Manager at Worthen Industries. In mattress Read more
Will Chipotle’s Investment In Education Pay Off For Its Employees?
April 20, 2021
Chipotle launched its new debt-free tuition program for its employees. The program will cover those majoring in agriculture, culinary, and hospitality industries. The move shows intention for how the QSR values Read more
Track to the Future: Array Technologies Achieves ISO 9001:2015 Certification
April 20, 2021
Array Technologies recently completed its ISO audits and ISO certification. This exciting step in Array Technologies' growth was the main topic of conversation for this episode of Track to the Future. Travis Read more