CEA: Holiday Retail Sales to Rise1 Oct, 2013 By: Chris Tribbey
The Consumer Electronics Association (CEA) is forecasting a 4% jump in total retail sales for the all-important November-December holiday season, with revenues expected to reach as high as $738 billion.
Online sales are expected to help drive the increase, growing 18.7% year-over-year, reaching approximately $57 billion. Mobile purchases are expected to grow 35%, passing $8 billion.
“The online retail channel will dictate holiday sales this season,” said Shawn DuBravac, chief economist and senior director of research for CEA. “Retailers and manufacturers should take note of shifting shopping habits as consumers increasingly turn online and to their mobile devices to make purchases.”
In 2012 consumers spent $709 billion during the holiday season.
“Overall retail holiday sales growth looks healthy for 2013,” DuBravac added. “However, significant economic risks remain unresolved, and these could still negatively impact how much consumers decide to spend this holiday season.”