Will We See Increases in Consumer Spending over the Holidays?

The economic projections hint at the possibility of higher consumer spending but also seems to be relatively unsure of the extent of that increase. What does appear clearer is that consumer spending is open to some speculation by industry experts. For example, there are mixed data that can predict holiday increases in consumer consumption through cooling inflation, low unemployment, increases in GDP, and other economic data points. On the other hand, some economists are seeing downward pressure when compared to last year because of high credit card and mortgage interest, low savings rates, and other indicators of uncertainty.

You may purchase
Holiday Pine Cones
in The Wooded Pathway Gallery

You may wish to read about Retail and consumer Purchasing Behavior

Retail

National Retail Federation states that November and December would rise 3-4% in 2023. Respectively $957.3 billion and $966.6. Online sales and non-store sales are expected to grow between 7% and 9% which equates to between $273.7 billion and $278.8 billion (Further indication that the Digital Era/Information Age is quickly changing economic fundamentals leading to the need for new theories that build off older one's popular during Mercantilism and the Industrial Age.)

Consumer Purchasing Behavior

Abode Analytics indicates that consumer spent $76.8 billion online based on early holiday discounts and flexible payment methods (Abode, 2023). The analysis includes over a trillion retail visits, 100 million SKUs and 18 different product categories. Discounts in categories such as electronics and apparel between 9-12%. The report includes information on increases in purchases from mobile devices, steady curbside pick up and other potential trends. (Reading consumer reports helps in forecasting certain aspects of the market. Accuracy being based in the construct validity of the measurement(s))  

Abode Communications Team (Oct. 2023) Adobe Analytics: Consumers spent $76.8 billion online, enticed by early holiday discounts and flexible payment methods. https://blog.adobe.com/en/publish/2023/11/09/adobe-analytics-early-holiday-spending#:~:text=2023).,online%2C%20up%204.3%20percent%20YoY.

National Retail Federation (Nov. 2023). Monthly Economic Review: November 2023. https://nrf.com/research/monthly-economic-review-november-2023