At A Loss For Holiday Gift Ideas? Here're Some Suggestions For You
27/11 15:22
After the atypical 2020 holiday season, where purchases were made online, in-person shopping has returned with 2021. In fact, customers have the option of capitalizing on the best of both the worlds.
"It's going to be a hybrid holiday this year, blending the return of a celebratory feeling with the now normalized pandemic lifestyle," according to Marshal Cohen, chief retail industry advisor for market research for NPD.
Record Holiday Season Predicted: Market analysts are bracing for a record holiday season. The National Retail Federation estimated that the holiday sales during November and December will likely increase between 8.5%-10.5% year-over-year to $843.4 billion-$859 billion. This excludes spending at auto dealerships, gas stations and restaurants.
NPD expects people, on average, to spend $875 on holiday gifts.
As of 9pm on Black Friday, consumers have spent $6.6 billion, according to the Adobe Digital Economy Index. When the final tally is in, consumers will have spent between $8.8 billion and $9.2 billion, the firm estimates.
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