Holiday Shoppers are expected to spend more this year

We are only two weeks away from what many consider the official start of the Christmas season, Black Friday!

The National Retail Federation expects spending on that day after Thanksgiving to increase by at least 16% this year compared to Black Friday 2021.

Today's inflation notwithstanding, the experts say spending during this holiday season is expected to continue on an upward trend.

Industry analysts predict sales during November and December 2022 will see up to an 8% increase from last year, reaching total consumer spending of around $950 billion.

Last year’s holiday sales totaled $889.3 billion, shattering previous records.

While many shoppers just love the festiveness of getting out into the stores, especially now that pandemic restrictions have eased, online and other non-store sales are expected to increase between 10% and 12%, with total sales of $262 billion to $267 billion.

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