Holiday Outlook Rosy for Online Retailers
Oct. 9, 2014
As retailer preparations for the 2014 holiday season continue at full steam, they have been buoyed by optimistic sales projections from a national retailer group. Overall, the National Retail Federation (NRF) expects holiday retail sales to increase 4.1 percent. Online, however, the NRF’s arm that tracks digital sales said growth in online channels would at least double the overall number. Shop.org, the division of the NRF dedicated to digital retail, said online sales in November and December will be 8 to 11 percent higher than they were last year, reaching as much as $105 billion.
"Though we have only seen consumer income and spending moderately – and erratically – accelerate this year, we believe there is still room for optimism this holiday season," said NRF Chief Economist Jack Kleinhenz. "In the grand scheme of things, consumers are in a much better place than they were this time last year, and the extra spending power could very well translate into solid holiday sales growth for retailers; however, shoppers will still be deliberate with their purchases, while hunting for hard-to-pass-up bargains."