NRF stated that a record year could be on tap for 2021 holiday retail sales (NRF defines holiday sales as sales from November 1-December 31, excluding automobile dealers, gasoline stations, and restaurants), projecting an increase between 8.5%-to-10.5%, coming in between $843.4 billion and $859 billion. Should this estimate come to fruition, it would top the previous record of $777.3 billion in 2020, which marked an 8.2% annual gain, as well as nearly doubling an average increase of 4.4% over the past five years, too.
Source: logistics Mgmt
NRF is calling for a record holiday retail sales season
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