'In the face of these challenges and in the face of the uncertainty that's taking place across the economy, consumers are behaving more thoughtfully, a bit cautiously but they continue to spend,' said NRF President and CEO Matthew Shay.
During a conference call on Thursday, the organization believes sales will increase 6 to 8% compared to last year. That equals anywhere from $942.6 billion to $960.4 billion more. "In the face of these challenges and in the face of the uncertainty that's taking place across the economy, consumers are behaving more thoughtfully, a bit cautiously but yet they continue to spend," said NRF President and CEO Matthew Shay.
This year, the NRF also pointed out shoppers will be looking for bargains which is in line with what early shoppers said today. "Everybody, including us, I think is more broke for sure, so maybe a little less this Christmas," said shopper Jennifer Shapaka. "It's going to be a good year, we're planning on it," said Frances Lawrence, owner of Lawrence's Gifts.
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