Confident consumers projected to drive holiday sales growth

Ahead of the annual post-Thanksgiving shopping surge, Missouri retailers prepared for a holiday season that one report projects will bring year-over-year sales growth of more than 5 percent.

“Shopping cheer resounds this year,” Deloitte declared in its annual holiday retail survey. The survey projects retail sales will increase 5 to 5.6 percent, driven by consumers who “seem bullish about the economy, their household financial situation, and their spending plans for the coming holiday season.”

With 73 percent of American consumers expecting the economy to improve or remain stable in the next year, most consumers plan to spend more this holiday season than they did last year, according to Deloitte, the global accounting and professional services firm.

Online sales are projected to see even greater growth, rising 17 to 22 percent, Deloitte reports.

Outlets prepared

In Missouri, outlet malls anticipated a boost from shoppers over Thanksgiving weekend, Missourinet reports.

Those outlets — and U.S. retailers in general — were split on Thanksgiving hours this year. Some were open Thursday, but others were shuttered on Thanksgiving Day with plans to open for Black Friday crowds.

NRF expectations

The National Retail Federation’s growth projections were less aggressive than Deloitte’s, with the retail industry group projecting year-over-year holiday spending to increase of 4.1 percent.

The NRF projects a busy Thanksgiving weekend, saying 164 million Americans plan to shop at some point this weekend. Black Friday will be the busiest day, the NRF projects, with 116 million consumers expected to shop.

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