Retail sales during holidays might surge up to 3.4% as predicted by Deloitte
The holiday shopping season is gearing up for another year of increased e-commerce sales, according to Deloitte's latest forecast. The total e-commerce sales during the holiday season are projected to reach between $305 billion and $310.7 billion, marking a significant increase from the previous season's sales of $285 billion.
The forecast for the U.S. holiday sales is even more promising, with Deloitte predicting a total of $1.61 trillion to $1.62 trillion in sales from November through January. This figure surpasses the recorded sales from the previous season of $1.57 trillion.
The growth rate for e-commerce holiday sales is expected to continue at a rate of between 7% and 9%, similar to the growth rate from the previous year. This growth is attributed to the increased use of AI by consumers to find the best deals for their holiday purchases.
However, it's important to note that the holiday sales forecast does not account for any potential impacts from external factors or events. Factors such as inflation, consumer sentiment, and broader economic uncertainty could potentially impact the final sales figures.
Inflation, in particular, could act as a double-edged sword this holiday season. While it may contribute to stronger sales figures due to the projected growth in personal income, it could also limit consumers' purchasing power and affect overall demand. Consumers may cut back on groceries and other essential items to cover holiday expenses.
Disposable personal income (DPI) is projected to grow between 3.1% to 5.4% this holiday season. The growth in DPI, combined with the increased use of AI for shopping, could help offset any decrease in consumer goods purchases due to inflation.
Despite the potential challenges, the holiday season continues to be a significant period for e-commerce sales. E-commerce sales are a key driver of retail sales, and their growth is expected to continue in the coming season.
However, Deloitte's forecast does not provide specific details on which sectors or industries are expected to see the most growth during the holiday season. This leaves room for uncertainty and potential surprises in the final sales figures.
In conclusion, the holiday shopping season is shaping up to be another promising period for e-commerce sales. With the projected growth in DPI and the increased use of AI for shopping, the holiday season could see continued growth in e-commerce sales. However, potential challenges such as inflation and broader economic uncertainty could impact the final sales figures.
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