Inflation is pushing up prices, but retailers are still going to see less growth in sales volume, according to Deloitte. E-commerce sales are expected to increase from a year ago.
growth is expected to slow during the 2022 holiday season as higher costs continue to weigh on consumer budgets, according to a new forecast by Deloitte.
From November through January, Deloitte projects that retail sales will grow between 4% and 6%, which is down considerably from the 15.1% growth during the same period last year. are estimated to grow between 12.8% to 14.3% compared with a year ago, according to Deloitte's report. Last holiday season, e-commerce sales grew 8.4%.
The lower projected growth for in-store retail sales this season "reflects the slowdown in the economy this year," Deloitte’s U.S. economic forecaster Daniel Bachman said. Bloomingdale's department store in the SoHo neighborhood of New York, U.S., on Sunday, Oct. 24, 2021.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FX Week Ahead - Top 5 Events: UK Jobs Report; US Inflation Rate; UK Inflation Rate; Australia Jobs Report; US Retail SalesThe middle of September has inflation data and labor markets in focus, particularly for the British Pound. The Federal Reserve is in its communications blackout period, increasing the potency of the August US CPI and August US retail sales.
Read more »
US holiday shopping season to likely see slowdown amid inflation stressHigher prices and inflation has caused many to cut back on spending for items that are not essential, which could affect this year's usual shopping rush.
Read more »
Holiday Shopping Season Expected to Be Muted as Inflation Squeezes ShoppersA spate of reports say shoppers are likely feeling thrifty heading into the holidays as they face higher prices for groceries and other necessities.
Read more »
10,000 Hard Rock Employees Getting Raises as Part of $100 Million PlanThe company says the plan is designed to help employees deal with persistent inflation, and to help the company attract and retain top talent, lessening turnover.
Read more »