Ohioans are expected to spend more than $31.3 billion this holiday season. While spending is predicted to be up compared to 2021, it’s lagging national forecasts and inflation.
While spending is predicted to be up compared to 2021, it’s lagging national forecasts and inflation.
Evans said during a press conference Tuesday that Ohio hasn’t recovered all of the jobs it lost since the start of the COVID-19 pandemic. The state also lost more wages relative to the U.S. and has been slower to rebound.Wages in Ohio have also grown slower compared to the national average, and Ohio saw a larger decline at the beginning of the pandemic.
He said consumer behaviors have changed, which means retailers have extra stock of some items that they need to liquidate. Gough said that will lead to sales for shoppers. No metro area is expected to see a decline in sales. If sales are up in 2022 versus 2021, it will be the tenth consecutive year of gorwth in Ohio holiday sales.
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