Saturday , June 25 2022

Christmas sales in the US are expected to exceed 1 trillion for the first time. dollar ::


Christmas sales in the US are expected to exceed 1 trillion for the first time. dollar

Photo: Reuters

Retail sales in the US are expected to grow to over 1 trillion. dollar for the first time this year, with low unemployment, income growth and high consumer confidence, CNBC reported according to a study released on Tuesday.

Total retail in the US will reach 1 002 trillion. dollar during the holiday period – from November 1st to December 31 this year, which would be an increase of 6% compared with the previous year. This would be the strongest growth since 2011, according to market research company eMarketer.

The latest information is in contrast to concerns about the future of retailers, such as Sears and Toys & R & # 39; R & # 39; Us, who faced the risk of bankruptcy, despite the fact that creditors canceled the launch of bankruptcy measures.

One can not fail to mention the fact that several retailers close hundreds of stores across the country because the threat of increased competition from e-commerce companies like Amazon and eBay continues to put pressure on the industry. On Monday, the Lowe chain said it would close 51 lower performance stores in the US and Canada.

According to the survey, the sector will see an increase of 4.4% year on year in retail sales to $ 878.38 billion.

"Although e-commerce continues to show strong double-digit profits, sales in physical stores will be the biggest winner this season," said Andrew Lipsman, chief analyst at eMarketer.

Not all retailers with physical stores have to close items. Some still manage to benefit from the strong economy by attracting buyers with refurbished stores, improved customer experience and online shopping.

However, e-commerce continues to grow in market share and will capture 12.3% of total sales this year, says eMarketer. Online retailing is expected to increase by 16.6% from the previous year to 123.73 billion dollars.

It is likely that during this year's holiday customers will be attracted to more promotions and bonuses like free and faster delivery when dealers compete with Amazon.

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