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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe National Retail Federation is delusional.......
Retailers could end up having a strong finish to 2020, despite all of the challenges that the coronavirus pandemic has dealt the industry, according to a new forecast that cites a strong stock market, rising home values and record personal savings rates as factors that could boost spending.
The National Retail Federation said Monday it expects holiday sales during November and Decemberto rise between 3.6 percent and 5.2 percent year over year, amounting to between $755.3 billion and $766.7 billion.
Given the pandemic, there is uncertainty about consumers willingness to spend, NRF Chief Economist Jack Kleinhenz said. But with the economy improving, most have the ability to spend.
With spending on travel and entertainment largely sidelined, consumers have more money to spend on other items, the group said. ..............(more)
https://www.nbcnews.com/business/business-news/retail-trade-group-says-holiday-sales-could-increase-much-5-n1248643
Sherman A1
(38,958 posts)C_U_L8R
(44,893 posts)Just like the NRA or any other 'trade' group. And just as honest it seems.
onecaliberal
(32,484 posts)These people are fucking delusional.
Newest Reality
(12,712 posts)dalton99a
(81,067 posts)in fast-food drive-thrus and restaurants, and on just about every item they need to work from home
exboyfil
(17,857 posts)supplied Internet. Our internet is the envy of our state (or at least of those surrounding our city that don't have access to it). I have made a vow to go to cell data if Mediacom or one of the other vultures is successful in getting legislation passed to close down our internet.
genxlib
(5,506 posts)If your industry is hampered by Corona shutdowns, then you are really suffering.
If you have the ability to continue working, you could be flush with cash. Maintaining an income while holding travel, gas and clothing expenses down really makes a difference. For some upper middle class people who have money invested, that has certainly put some money into the household (albeit money that can dissipate when the stock market realizes takes a turn for the worse). Not to mention, the stimulus was added money even for families that weren't affected.
I have to confess that this year has been good to me financially. I have gone out of my way to increase charitable giving with a focus on food insecurity.
The questions for this trade group are
a) whether people will spend that money at all? Without parties or family visits, gift giving will be down. As far as spending it on themselves, what do you really need when you are stuck inside your home. Outside of a bigger TV or furniture, I am not sure people will. Who needs more clothes or jewelry right now.
b) will that money get spent in brick and mortar stores? To whatever degree that there is a boost, I expect online retailing to get the lion share.
-Laelth
Wellstone ruled
(34,661 posts)underground economy which is flourishing in most Metro's. Cash and barter is alive and well.