Source: Retailing Today
More Americans are planning holiday-related purchases this year than in 2014, and those who plan to shop will spend more over a longer period of time, according to the International Council of Shopping Centers.
The 2015 ICSC Consumer Forecast shows that 90% of Americans are planning holiday purchases this season, up from 82% last year. And overall, 80% of shoppers plan to spend the same or more this holiday season than they did in 2014. The ICSC outlook is based on consumer intentions, in contrast to NRF’s forecast and Deloitte’s projection, both of which called for lower holiday sales than last year.
ICSC is forecasting overall year-over-year growth of 3.3% in retail sales this holiday season (Nov.-Dec.). That pace would be significantly ahead of the average 10-year holiday sales growth of 1.8% and slightly ahead of the current yearly pace of 2.8%.