New York—Although we’re still all wrapped up in what comes down the Paris runways and how it reflects what went on in Milan, London and New York, the looming issue is a big one: the holiday season.
We’ll Take Moderately
And if Deloitte is correct in its assessment of the retail situation, holiday sales should rise “moderately,” up 4% to 4.5%. That’s an improvement, however, from the 2013 holiday season when the increase was 2.8%.
The reason for the bump up? “Although consumers are watching tensions unfold in the Middle East and Ukraine, the improvement in their economic situation should more than offset the foreign conflicts’ impact on consumer confidence and retail sales. Despite recent events in energy-producing areas of the world, gas prices have held steady, which may also sustain consumers’ spending power.”
So despite the gloomy news coming from many parts of the world—especially the Middle East—American consumers evidently still plan to reward their friends and relatives with more gifts this season. The big question remains which retailers have omnichannel abilities to increase their sales.
For the holiday forecast, as well as key Spring 2015 trend forecasts, check out the top 10 articles of the week: