Consumer Behavior

Modest retail sales growth forecast for holiday season

Photo: Adobe Stock/By ipopba

September 23, 2024

There will be a modest U.S. retail sales bump, of 1.2% to 3.5%, due to political and economic uncertainty.

That's a prime finding of a Gordon Brothers forecast that also revealed the holiday calendar isn't a retailer's best friend this year, according to a press release on the data findings.

"Not only is the U.S. election concerning consumers and increasing advertising costs, but Thanksgiving is late in the 2024 calendar year so there is nearly one less week between Black Friday and Christmas," Alexa Driansky, managing director at Gordon Brothers, said in the release. "As a result, retailers will feel even more pressure this year due to a major holiday sales time crunch."