Before you know it, the holidays will be upon us, and people will hit their favorite shops to buy presents for their loved ones.

Despite concerns over inflation and rising costs, experts anticipate that holiday spending will reach record levels this year.

According to the National Retail Federation, holiday spending is expected to grow between 2.5% and 3.5% by 2023.

Holiday Shopping In Montana

If there isn't enough pressure with holiday shopping, this year's season will be slightly shorter.

Between Thanksgiving and Christmas, there are only 26 days, five days shorter than last year.

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Holiday Spending 2024

The anticipated growth of 2.5% to 3.5% over 2023 equates to about $979.5 billion to $989 billion in total spending for November and December.

To put it in perspective, in 2023, consumers spent roughly $955.6 billion over the holidays.

To accommodate this increased spending, retailers are anticipated to hire around 400,000 to 500,000 seasonal workers this year.

Online Shopping

According to the National Retail Federation, online shopping will be one of the main drivers of sales growth this year.

They anticipate that online and non-store sales will climb 8% to 9%, totaling over $295.1 billion.

This would be a substantial increase in online and non-store sales in 2023.

About the National Retail Federation

The National Retail Federation is a leading voice in the retail industry, advocating for policies, people, and ideas that drive success in retail.

NRF provides monthly data on retail sales and offers annual forecasts, including insights into key periods like the holiday season.

For more details on NRF's holiday forecast, visit the Winter Holiday FAQ and Winter Holiday Headquarters on the NRF website.

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Vintage Toys to Look for This Holiday Season

Here are some of the most popular vintage toys every kid had to have and where you can buy them today.

Gallery Credit: Nick Chrestenson

5 Ways To Stop Porch Pirates From Jacking Your Holiday Gifts

These simple steps can help you keep porch pirates at bay and enjoy a stress-free holiday season with your deliveries safe and sound!

LOOK: Here's how much grocery shopping now costs in the U.S.

The average cost of groceries for one person per month in 2023 was around $337. But how does your state compare? Do you pay more, or less? Data compiled by Zippia takes a look at the average monthly grocery bill per person in all 50 states. States are listed from most expensive to least expensive and are rounded up to the nearest dollar.

Gallery Credit: Mike Brant

Source: Holiday Spending Is Expected To Surge This Year

Filed Under: Montana, Holidays, Shopping, Social Post

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