The holiday shopping season may be less than awesome as inflation squeezes budgets
noted the growing demand for such clothing at the Goldman Sachs Annual Global Retailing Conference last week.
A report by Deloitte, however, estimates stronger e-commerce growth of between 12.8% and 14.3%, which it attributed to budget-focused consumers going online to find deals and compare prices.Even if retailers see stronger sales this holiday season, 92% of executives surveyed by KPMG said they expect a recession in the near future. Eighty-one percent said they believe a recession would last a year or less.
The summer's inventory gluts could also come back to haunt retailers, with 56% percent of executives expecting to be stuck with excess merchandise after the holidays. That could lead to even more discounting.
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