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Holiday Sales Expected to Increase This Year

Holiday Sales Expected to Increase This Year
News
Monday, October 1, 2012 - 9:54pm

Some projections are coming out Tuesday on what we can expect in retail sales this Christmas and for many people, the gift they'll get could be their best one ever.

Though not as brisk as last Christmas, the National Retail Federation still expects holiday sales to increase this year.

"Sales are going to increase by 4.1 percent, which is almost $600,000,000 and that's the highest forecast we've put out anytime over the past five years," said Matt Shay, President, National Retail Federation.

It's a far cry from the depths of the great recession in 2008 and 2009 when Christmas retail hit reverse.

But the retail group said neither political uncertainty, high gas prices, soft housing nor the struggling job market will keep shoppers from their appointed rounds this year.

"We're confident that if congress and the administration would resolve these issues... that this 4.1 percent projection would actually be higher," said Shay.

The projections by the retail federation line up with others to include the International Council of Shopping Centers and all, also agree online sales will climb another whopping 12 to 15 percent this year over last.

While encouraging news to retailers, the unemployed have even more reason to be excited.

"We're expecting seasonal hires of approximately 600,000 could be as high as 625,000," said Shay.

The seasonal workers expected to be hired this holiday season is comparable to the 607,000 hired last year.

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