Retail sales in November and December are expected to grow between 8.5% and 10.5% this year compared with the 2020 holiday season, to a record of up to $859 billion, projected the National Retail Federation, a trade group for retailers. This year, retailers bet on a strong holiday. Online sales on Black Friday surged 85% in 2020 from the year prior, but overall sales dipped 16.1%. These trends mark a reversal from 2020, when retailers limited their doorbuster deals to prevent overcrowding in stores and pushed shoppers to buy online instead. “We anticipate a positive holiday season well beyond Black Friday.”Ĭlothing sales led the growth, increasing 86.4% on Black Friday from a year ago when shoppers were mostly at home and didn’t have much reason to spruce up their wardrobes. “Retail spending has been on the rise throughout the day and it speaks to the strength of the consumer,” said Steve Sadove, senior advisor for Mastercard.
Going to the store may be your smartest bet to navigate the supply chain crisis this holiday
A shopper carries bags over her shoulder while passing a holiday display window outside the Macy's store in the Downtown Crossing district, Wednesday, Nov.
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