NRF’s holiday sales forecast is developed based on an economic model using several indicators including consumer confidence, consumer credit, disposable personal income and previous monthly retail sales releases. For the first time this year, NRF used its holiday forecasting model to create a projection for seasonal hiring in retail. According to NRF, retailers are expected to hire between 480,000 and 500,000 seasonal workers this holiday season, which is comparable to the 495,000 seasonal employees they hired last year.*** While most retailers bring in additional employees during the holiday season to account for an uptick in traffic and sales, retailers have also been hiring throughout the last year: Since last August, the retail industry has added nearly 100,000 jobs. www.NRF.com * NRF defines “holiday sales” as retail industry sales in the months of November and December. Retail industry sales include most traditional retail categories including discounters, department stores, grocery stores, and specialty stores, and exclude sales at automotive dealers, gas stations, and restaurants. **Holiday retail sales for the past eight years have been updated based on revisions from the U.S. Department of Commerce. The most up-to-date statistics on previous holiday season sales numbers and growth can be found on page 6 of NRF’s 2011 Holiday Survival Kit. *** NRF used the same definition of “retail” to identify historical hiring trends and forecast 2011 seasonal employment. Historical hiring numbers can be found on page 8 of NRF’s 2011 Holiday Survival Kit.
NRF: Holiday Sales to Rise 2.8%
By on October 6, 2011 Leave a Comment
