Holiday Spending Expected To Be Up This Year
MINNEAPOLIS (WCCO) -- It's the day before Halloween, but do you want to know what's really scary? It's almost time for holiday shopping.
Consumers say they'll spend an average of about $970 this year, according to a new survey.
The National Retail Federation says that's $31 more than what people said they'd spend last year.
NRF president and CEO Matthew Shay credits increases in employment and income for the lift.
"Retailers have been stocking up in expectation of this, and all signs are that this will be a busy holiday season," Shay said. "Retailers are preparing for a rush of consumers leading into Thanksgiving and all through December, and are offering a wide array of merchandise and promotions so shoppers can find great gifts and great deals at the same time."
Nearly 60 percent of consumers say they'll spend some of their money online.