What a better way for Americans to recover from a tumultuous presidential election than shopping!
The holiday season, defined by National Retailers Federation as sales in the months of November and December, is the biggest time of year for retailers of all shapes and sizes, and can account for as much as 30 percent of a retailer's annual sales. This year, NRF estimates that holiday sales will increase 3.7 percent to $630.5 billion.The average increase in holiday sales for the past 10 years is 2.5 percent.
According to the 2016 Deloitte holiday shopping survey, this holiday season will mark a major milestone, as shoppers plan on spending an equal amount online versus in stores. Consumers say that 47% of their holiday shopping budget will go to online spending, and 47% will go toward purchases inside physical stores. Based on the projected increases in online shopping, UPS is forecasting that its deliveries will rise nearly 17% from Thanksgiving through New Year's, compared with the same period in 2015.