Retailers Could Ring Up More Than $1.1 Trillion In Holiday Sales

Retailers appear to have the odds in their favor this holiday season, with record-low unemployment across the U.S., strong consumer confidence and building sales momentum so far in 2018.

“We think most retailers will have a good holiday season if they have a distinctive value proposition,” Rod Sides, vice chairman of Deloitte’s U.S. retail and distribution practice, told CNBC. “We think off-price will continue to do well, and there will be a rebound in luxury.”

Retail sales are expected to grow between 5 and 5.6 percent from a year ago, according to Deloitte’s annual forecast for the holiday season, which was released Wednesday. For comparison, sales between November of last year and January 2018 climbed 5 percent, totaling $1.05 trillion, according to data from the U.S. Commerce Department. This year, Deloitte says holiday retail sales could top $1.10 trillion.     MORE

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