Trade organization predicts retail holiday revenue to increase by 4 percent

Positive economic signals point to a stronger holiday shopping season as the International Council of Shopping Centers (ICSC) forecasts a 4.0 percent increase in sales during the November-December holiday shopping period, the strongest gain in three years. Total holiday shopping sales at shopping centers is estimated to be $488.6 billion in the same period, according to an article on Retail Customer Experience.

A significant rebound in the U.S. labor market since last spring, along with decreasing unemployment rates and year-over-year gains in personal income all bode well for consumers and point to a likely solid increase in holiday spending. Also, despite a setback in September, consumer confidence in the U.S. remains considerably higher than during the same time last year.

“While consumers are expected to remain focused on price this holiday, the positive momentum of key economic indicators are pointing to consumers who are willing to open their wallets and hit the stores this holiday,” said Jesse Tron, spokesperson for ICSC.

In addition, consumer spending is projected to increase, according to Accenture's annual holiday shopping survey. Amid signs of increased optimism about their personal finances, one-quarter (25 percent) of U.S. consumers plans to spend more on holiday shopping this year compared to 20 percent in 2013, and spending on holiday gifts is expected to average $718, according to the article on Retail Customer Experience. 

Holiday hiring, another strong indicator of holiday sales, is forecasted to be up with seasonal employment at shopping centers expected to rise by 7.3 percent to 794,258 jobs.

To view specific sales growth rates by category and other statistical information, visit Retail Customer Experience's website.