Rail News – NRF predicts record holiday retail sales. For railway professionals

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Railway news

Shippers

10/29/2021

Railway News: Shippers




“Retailers are making significant investments in their supply chains and spending heavily to ensure they have products on their shelves to meet this time of exceptional consumer demand,” said Matthew Shay, president and chief executive officer. the management of NRF.
Photo – nrf.com



Retail sales records are set to rise more than ever, according to forecasts by National Federation of Retailers (NRF).

November and December sales could increase by up to 10.5% from a year ago, representing $ 859 billion in purchasing power, NRF officials said in a press release. That would surpass the record 8.2% in 2020, or $ 777.3 billion, not counting sales at car dealerships, gas stations and restaurants.

Online sales are expected to increase by up to 15%, to a total of $ 226.2 billion, from $ 196.7 billion in 2020. more traditional shopping season, NRF officials said.

“Retailers are making significant investments in their supply chains and spending heavily to ensure they have products on their shelves to meet this time of exceptional consumer demand,” said Matthew Shay, president and chief executive officer. the management of NRF.

While the future looks bright, another wave of COVID-19 variants similar to the recent Delta surge could sidetrack spending in the coming months, said Jack Kleinhenz, NRF chief economist.

Retailers are expected to hire more than half a million seasonal workers to prepare for the holiday rush, with some hires made early amid household concerns over lack of inventory and longer shipping times.

“If retailers can keep the merchandise on the shelves and the merchandise arrives before Christmas, it could be a great holiday sales season,” Kleinhenz said.


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