Each year the National Retail Federation and BIGresearch get together and create the holiday season sales outlook for the year. Projections have always forecasted sales growth, until 2008. Both 2008 and 2009 were extremely tough years for retailers during the holiday season which determines how retailers do for the year. 2010 brought new light with an over 5% increase in expected sales.
2011 predictions have arrived and although they aren’t as desirable as last year’s, it is still in the positive direction. Sales are expected to increase 2.8% this year to a total spending of $465.6 billion. Compared to last year, it may seem that this year’s increase is nothing to get over excited about but this simply isn’t the case. Because the increase isn’t as high as last year’s, this means retailers have to get more creative in how they attract customers. (more…)