Deloitte forecasts an uptick of from 7% to 9% in holiday retail sales, for a total of $128 trillion to $1.3 trillion in the November-January period.
Ecommerce sales will increase by 11% to 15% to hit a total of $210 billion to $218 billion, Deloitte says.
“As vaccination rates rise and consumers are more comfortable being outside of the home, we are likely to see increased spending on services, including restaurants and travel, while spending on goods will continue to hold steady,” says Daniel Bachman, Deloitte’s U.S. economic forecaster.
Bachman says “e-commerce sales will continue to grow as consumers demonstrate an ongoing and steady movement toward buying online across all categories.”
“While consumer concerns about health and safety have eased since the last holiday season, pandemic-influenced shopping behaviors continue to gain traction,” adds Rod Sides, vice chairman, Deloitte LLP and U.S. retail and distribution sector leader.
Sides adds: “Retailers who remain resilient to shifting consumer behaviors and offer convenient options for online and in-store shopping, as well as order fulfillment, will be poised for growth this holiday season, and into the new year.”
Also contributing to a probable increase is growth in disposable personal income.
Last year’s holiday sales were stronger than expected, growing by 5.8%.