Reuters, November 23 - The National Federation of Retailers (NRF) said on Monday it expects U.S. holiday sales to increase by up to 5.2% in 2020. Despite rising COVID-19 cases, Americans are planning to increase gift spending during the holidays.
The NRF expects sales to increase by 3.6%-5.2%, or US$755.3 billion to US$766.7 billion, excluding car dealerships, gas stations, and restaurants, compared to 4% last year.
According to the NRF, falling spending on personal services, travel and entertainment during the pandemic crisis freed up money for retail spending.
“Given the pandemic, there is uncertainty about consumers' willingness to spend, but as the economy improves, most people are able to spend,” said Jack Kleinhenz, chief analyst at NRF.
The NRF expects online sales and other non-store sales to increase by 20%-30% to $202.5 billion to $218.4 billion, compared to $168.7 billion last year. (complete)

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(Compiled by Wang Can; Reviser Dai Suping)
(can.wang@thomsonreuters.com; 86-10-56692078;)