(Missourinet/KTTN) – The Missouri Retailers Association forecasts a holiday sales increase of between 3% and 4% this year. Association President Dave Overfelt expressed optimism about these figures, considering the current economic climate.
Overfelt remarked, “This represents an over $9 billion rise compared to previous years. The expectation is a robust holiday shopping season. To put it into perspective, last year’s increase was 5.4%, and in 2021, it was 12.7%. Since 2010, the average growth rate has been around 3.6%. It’s evident that American consumers have played a pivotal role in sustaining the economy.”
Holiday shopping trends have evolved significantly over the years. Overfelt noted a strategic shift towards earlier online sales, beginning before Black Friday. This change aims to manage the intense retail rush that became prevalent in the 1980s. Retailers are adopting measures to mitigate in-store crowding by launching Black Friday deals online and in stores a few days in advance.
For those planning to engage in Black Friday shopping at physical stores, it’s important to note that Black Friday is this Friday.