The NRF’s report reflects cautious optimism about the forthcoming holiday season. The organization cited growth in wages and household wealth as reasons behind the increase in holiday spending, but also said that a surge in COVID-19 infections could disrupt the projected rise in holiday spending.
Other reports reflect a similar wariness about the future. Per a recent report from Alvarez & Marsal’s Consumer Retail Consumer Group, 52% of consumers anticipate their situations remaining the same or worsening over the next six months, and 57% of consumers think they’ll have the same or less money during the same period. Consumers are also concerned about supply chain challenges, with 75% of shoppers worried about products going out of stock this holiday season.
