Holiday spending expected to rise this year despite Delta variant
CBSN
Retailers can look forward to a rebound in holiday shopping this year despite the COVID-19 Delta variant's impact on the U.S. economy.
U.S. consumers will spend up to 9% more this holiday period compared to 2020, when consumers spent a total of $1.2 trillion during the key shopping period between November and the end of the year, according to a forecast from Deloitte. That would be an improvement over holiday spending over the last two years, when sales grew less than 6% in 2020 and just over 4% the previous year.
"This year's range is considerably higher. What we might find with the Delta variant is that folks will perhaps spend more online versus in brick-and-mortar stores," said Deloitte Vice Chairman Rod Sides.
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