Despite Economic Uncertainty, Retailers Can Still Expect a Strong Holiday Shopping Season
The National Retail Federation is predicting that U.S. holiday retail sales will be higher this year than last year. Still, NRF Chief Economist Jack Kleinhenz pointed out that the trade war with China makes predictions difficult, as tariffs just seem to keep coming. The resulting uncertainty has the country experiencing “significant economic unease.” But the numbers indicate that the economy itself has the momentum to deliver a strong holiday shopping season in spite of all that.
“There has clearly been a slowdown brought on by considerable uncertainty around issues including trade, interest rates, global risk factors and political rhetoric,” NRF Chief Executive Officer Matthew Shay said in a statement.