Deloitte's retail group expects total holiday sales from November through January to reach $852 billion, representing a 2% increase in holiday sales, excluding motor vehicles and gasoline, over last season. The growth represents a slight improvement from last year's 1% gain.
“Sustained weakness in the housing and employment markets continue to restrict consumer cash flow,” said Carl Steidtmann, Deloitte's chief economist.
Much of the growth is expected to be in online sales and other “non-store” sales, said Allison Paul, vice chairman and Deloitte's retail sector leader in the United States. Deloitte forecasts a 15% increase in non-store sales, with nearly two-thirds of the growth from online sales and the remainder coming from catalogs and interactive TV.
“The convenience and functionality that have fueled e-commerce gains in previous seasons will continue to draw consumers online to do their shopping this year,” Paul said. “Online activity may also influence in-store shopping this holiday season, as social networks and mobile applications are playing a more prominent role in the shopping process.”
