Holiday Retail 2020 Hangs By A Thread, As Consumers Will Cut Spending 7%, According To Deloitte

By this time each year, the National Retail Federation (NRF) would be out with its holiday retail forecast. But 2020 has been a year like no other, so NRF begged off making their prediction until November. Comparing the forecasting process to completing a jigsaw puzzle with some of the pieces missing, NRF’s chief economist Jack Kleinhenz said in a statement: “We are waiting for new data and are still assembling puzzle pieces for the 2020 holiday season. The test is whether consumer spending will be sustained amid wildcard puzzle pieces including policy surprises, the election and a resurgent virus.” Read more at Forbes.