U.S. Retailers’ Holiday Sales to Rise Most in 4 Years, NRF Says

U.S. holiday retail sales will climb 2.3 percent, for the best season in four years, as customers lured by promotions purchase apparel and electronics, the National Retail Federation said.

The increase in retail sales to $447.1 billion in November and December will be the biggest since a 3.1 percent gain in 2006, the Washington-based trade group said. Holiday sales rose 0.4 percent last year after a 3.9 percent drop in 2008.

Consumers have begun buying again as the economy has recovered, after cutting expenses during the worst recession since the Great Depression of the 1930s. Retailers, which have controlled inventories and made supply chains more efficient, will use planned promotions to drive sales, NRF President Matthew Shay said.

Read Full Article from Bloomberg

- Posted: 2010-10-06 04:44:24

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