5 key findings about holiday payment habits
Expect this holiday shopping season to be a busy one with U.S. consumers spending roughly $730 billion according to the National Retail Federation (NRF). The NRF forecast is a growth of 3.8% to 4.2% in total November and December retail sales over 2018. The NRF reported that online and other non-store sales will grow between 11% and 14% over last year to reach between $162.6 billion and $166.9 billion. In comparison, 2018 overall sales grew a tepid 2.1% to reach $701.2 billion.
The NRF reported in its survey that consumers will spend on average $1,047.83 this holiday season, up 4% from the $1,007.24 they said they would spend in the 2018 survey. Shoppers between the ages of 35 and 44 stated that they planned to spend the most at $1,158.63.