![]() ![]() ![]() Kleinhenz said strong household fundamentals provide optimism amid the uncertainty. While it appears new COVID-19 infections and hospitalizations are down, a variant surge could potentially sidetrack the current trajectory of spending. However, if retailers can keep merchandise on the shelves and merchandise arrives before Christmas, it could be a stellar holiday sales season.” “With the prospect of consumers seeking to shop early, inventories may be pulled down sooner and shortages may develop in the later weeks of the shopping season. “Pandemic-related supply chain disruptions have caused shortages of merchandise and most of this year’s inflationary pressure,” Kleinhenz said. “The unusual and beneficial position we find ourselves in is that households have increased spending vigorously throughout most of 2021 and remain with plenty of holiday purchasing power.” “The outlook for the holiday season looks very bright,” NRF Chief Economist Jack Kleinhenz said. While ecommerce will remain important, households are also expected to shift back to in-store shopping and a more traditional holiday shopping experience. Last year saw extraordinary growth in digital channels as consumers turned to online shopping to meet their holiday needs during the pandemic.
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