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NRF boosts holiday forecast
WASHINGTON — The National Retail Federation is putting its faith in the holidays by upgrading its spending forecast for the season.
After initially anticipating sales growth of 2.8%, the NRF said it now expects holiday sales to rise 3.8% to $469.1 billion. The projection may be lower than the 5.2% increase the retail industry saw last year, but the group said a number of factors, such as strong year-over-year sales and the fact that not all consumers have completed their holiday shopping lists, could provide the industry with a great gift after all.
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Survey: Holiday shoppers plan to spend less; gift cards more popular in United States
NEW YORK — A new survey by Angus Reid Public Opinion revealed a number of similarities and differences between the holiday shopping habits of people in North America and the United Kingdom.
The survey found that 40% of Americans, 41% of Canadians and 49% of Britons said they plan to spend less during the 2011 holiday season than they did last year, though 16% of Americans and 21% of Canadians said they're now in better financial situations. By contrast, 39% of Americans and 28% of Canadians said they're in worse shape, compared with 55% of Britons.