Recent national data points to a slower Holiday sales season for retailers. While recent polls have repeatedly shown Americans’ concern over the struggling economy taking priority, the impact of those concerns could clearly manifest itself this weekend with retailers across the country. The Christmas holiday shopping season officially kicks off this weekend on Black Friday.
A recent Rasmussen study showed that 66% of American adults expected to spend less than last year on gifts this holiday season. Those numbers track with predictions from the National Retail Federation. The NRF forecasts sales growth this Holiday season at 2.2% which is half of the 10 year average growth rate of 4.4%.
Combine that data with a recent Gallup daily tracking survey which indicates 60% of Americans as “struggling” in the current economic climate. The same study showed the number of Americans who consider themselves “thriving” dropped to a new low of 36%.
In all, the research points to continued difficulties for retailers throughout what should be their busiest season.
