Two major forecasts predict that U.S. holiday sales will soar to $1 trillion this season, reflecting robust consumer confidence and economic resilience.
What’s Behind the Surge?
According to Jitender Miglani, principal forecast analyst at Forrester, factors such as strong purchasing power, easing inflation, declining interest rates, and a robust labor market are driving the anticipated 3.7% rise in sales over last year. This growth surpasses pre-pandemic averages.
Forrester estimates holiday sales at $1 trillion, while eMarketer projects an even higher figure of $1.4 trillion, marking a 4.8% increase from 2023.
E-Commerce Growth Continues
Online shopping is expected to grow by:
- 10.1% to $257 billion (Forrester forecast).
- 9.5% to $266.89 billion (eMarketer forecast).
Though e-commerce continues to expand, the majority of holiday sales (80%) will still take place offline. eMarketer predicts brick-and-mortar sales will rise by 3.7%, totaling $1.1 trillion.
With strong economic indicators and optimistic forecasts, this holiday season could mark a record-breaking year for U.S. retail.