The National Retail Federation has forecast healthy retail sales for the holiday season, even with recent inflationary challenges. This prediction is supported by the most recent consumer spending data offered up by the Commerce Department.
Major retailer Target has moderated expectations but still anticipates a 3% increase in holiday sales. The company expects margins to take a hit as they discount discretionary items like home furnishings and electronics to clear excess inventory.
What does your bike shop anticipate for December sales?
If you are like other shops we talk to, you expect a soft month because you’ve seen consumer demand taper in recent months. Also, December sales aren’t what they used to be as consumers have shifted holiday spending away from bikes towards categories like electronics.