10.03.17
Holiday shoppers are more likely to purchase electronics rather than eau de parfum these days, but a bullish prediction from the National Retail Federation is still good news for FMCG companies. The National Retail Federation forecasts a 3.6% to 4% rise in holiday retail sales during the November-to-December period for a total of $678.8 billion to $682.0 billion. The estimate excludes gas, autos and restaurants. There are 32 shopping days between Thanksgiving and Christmas, one more than last year, and there's an extra weekend day for shopping since Christmas falls on a Monday.
"Although this year hasn't been perfect, especially with the recent devastating hurricanes, we believe that a longer shopping season and strong consumer confidence will deliver retailers a strong holiday season," said NRF Chief Executive Matthew Shay.
Seasonal employment is expected to increase by 500,000 to 550,000 temporary hires, down from 575,000 last year. With home prices holding up, and the S&P 500 rising 13% YTD and DJIA adding more than 14%, a lot of consumers feel good about their finances. And while the fragrance counter will never be confused with the electronics department, all that foot traffic in malls and clicking frenzies online, should provide a lift to CFT gift-giving this year.
"Although this year hasn't been perfect, especially with the recent devastating hurricanes, we believe that a longer shopping season and strong consumer confidence will deliver retailers a strong holiday season," said NRF Chief Executive Matthew Shay.
Seasonal employment is expected to increase by 500,000 to 550,000 temporary hires, down from 575,000 last year. With home prices holding up, and the S&P 500 rising 13% YTD and DJIA adding more than 14%, a lot of consumers feel good about their finances. And while the fragrance counter will never be confused with the electronics department, all that foot traffic in malls and clicking frenzies online, should provide a lift to CFT gift-giving this year.