Holiday sales increased 8.2% in 2020 when shoppers, locked down during the early part of the pandemic, splurged on pajamas and home goods, mostly online. The National Retail Federation said early in December that holiday sales were on track to beat its already record-breaking forecasts for an increase of 8.5% to 10.5% compared to the year-ago period. And omicron, which has fast become the dominant version of the virus in the United States, has now spoiled holiday plans for many Americans who have had to cancel gatherings last minute. Still, November saw a slowdown in retail sales, in part because of the early shopping. Consumers were also determined to celebrate the holidays after a muted one a year ago. Overall, analysts had expected a strong holiday season, fueled by early shopping that started back in October in anticipation of a product shortage. Analysts will also be dissecting the fourth-quarter financial results from different retailers that are slated to be released in February. The results will be based on an analysis of the November and December sales figures from the Commerce Department. Download our local news and weather app for iOS or Android - and choose the alerts you want.Ī broader picture will be revealed next month when the National Retail Federation, the nation’s largest retail trade group, comes out with its combined two-month results in mid-January.
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