Consumers aged 35 to 44 to drive record spending of $35.7 billion for Mother's Day this year, NRF's annual survey finds
The forecast is above the pre-pandemic, average annual growth rate of 3.6%.
54% of consumers will buy their Easter gifts from discount stores, according to an NRF survey.
"The underlying fundamentals in the consumer economy remain on solid footing," says NRF President and CEO Matthew Shay.
Current health of corporate and household balance sheets should limit economic slowdown, NRF Chief Economist Jack Kleinhenz said.
Retailers expect a busy holiday season, but imports at major container ports should continue to slow from records set earlier in the year.
The group is forecasting a 6% to 8% sales increase over 2021.
“The most recent research pegs the risk over the next year as about one in three, and it will be touch and go in 2023.”
Sales outlook tops pre-pandemic growth rate.
But its chief economist warns of "indigestion as we adjust to new policies."
Like an Italian mega-influencers new eyewear line and good news for retail sales.
Joint letter from retail groups also raised a list of questions.
Adult-beverage purveyors, home-improvement stores lead the way.
The NRF has revised its retail sales forecast upward.
The National Retail Federation prediction was revised from its earlier numbers revealed in February.
'Previous downturns offer little guidance on what is likely to unfold over the next six to 12 months,' he says.
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