Holiday spending forecast to top $1 trillion

Inflation is expected to account for much of the increase, according to a new report from Bain & Company.

U.S. retail sales during November and December are forecast to grow 4.5% year over year and top $1 trillion for the first time, according to a Thursday release from Bain & Company. Inflation will account for over half of the nominal rise in sales, per the report.
While in-store retail sales are expected to grow 2.5%, online sales are expected to rise 9% year over year, according to Bain’s findings based on a survey of over 1,100 consumers.

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