U.S. shoppers are poised to spend as much $960 billion this holiday season, a slower pace of growth than 2021. “Consumers are behaving more thoughtfully,” National Retail Federation president Matthew Shay says.
Consumer spending has held up relatively well so far despite inflation, but experts say we’re approaching an inflection point. WSJ’s Sharon Terlep explains the role “elasticity” plays in a company’s decision on whether to raise prices. Photo illustration: Adele MorganHoliday retail sales are slated to increase at a slower rate than last year, retail industry groups and consultants say, as consumers continue to face strains from higher prices.
On Thursday the National Retail Federation predicted sales will rise between 6% and 8% to between $942.6 billion and $960.4 billion from Nov. 1 through Dec. 31. The figures exclude spending at car dealers, gas stations and restaurants.
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