Photo: PSEG Long Island
Trade Winds

Holiday sales expected to rise

Analysts are predicting a joyous holiday for retailers this season.

Retail sales are expected to exceed $733 billion for this holiday season, that’s a 4.6 percent increase from last year, according to the latest report from London-based analyst IHS Markit.

The healthy sales predicted would also outperform the average holiday sales growth of 3.8 percent since 2010.

Sectors that should show gains include furniture and home furnishings, health and personal care and food stores. However, department stores, electronics and appliances and clothing and accessories categories are each expected to see sales declines.

Online sales for the holiday season are expected to soar, climbing 18.4 percent from the previous year and bringing online sales to a new high of 21.1 percent of all holiday shopping revenue.

Share this:

Trade Winds

Trade Winds is written by journalists from the Long Island business community.