We forecast the 2023 holiday season to grow similarly to 2022. Although we expect unemployment rates to rise, that won’t be enough to drag down consumer spending amid economic uncertainty.
Total retail sales growth will remain in mid-single digits. Overall retail spending will rise 4.5% to $1.328 trillion for the 2023 holiday season.
Retailers and brands will need to acquire 2023 holiday shoppers more cost-effectively and give them reasons to spend. By confidently investing in fast-emerging growth marketing opportunities now, they can gain a competitive edge by holiday time.
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