Holiday Sales Likely To Tick Up Only Slightly, As Shoppers Hedge Their Bets Amid COVID-19

How will you spend this holiday? That’s on the minds of the nation’s retailers. In the first holiday season since the coronavirus pandemic, shopper concerns about health of their families and their finances are likely to put a chill on spending, with retail sales expected to rise only slightly. Sales are expected to increase between 1% and 1.5% from November to January as compared to last year, according to the consultancy firm Deloitte. While that would still add up to between $1.147 billion and $1.152 billion in spending, the forecast reflects the lingering uncertainty about the coronavirus as well as the economy. A vaccine could spur consumer confidence and job growth, while continued spikes and winding layoffs could lead shoppers to focus more on saving than spending – though cash that would typically go toward travel and dining out may also allow more money for gifts. Read more at USA Today.