The forecast for Black Friday and beyond: Better
November 20, 2016
Voters weren’t the only ones relieved to have the contentious 2016 presidential election behind them.
Retailers are also breathing more freely. During the weeks leading up to the election, the uncertainty of who would win seemed to put a stranglehold on consumer confidence, which was down during October despite a 0.5 percent increase in sales.
Now, with Black Friday just days away and the next president of the United States chosen, retailers are feeling more confident that people are ready to spend money.
Big dollars this holiday
Several forecasts for Black Friday, including the notoriously rosy-eyed National Retail Federation, project stronger spending this year than last.
The NRF projects 137.4 million will come out on Black Friday, up from 135.8 million last year, and it thinks overall holiday sales will be up 3.6 percent.
Target recently raised its holiday sales forecast for fourth quarter, as have a few other retailers.
PwC has projected overall sales will be up 10 percent for the holidays, including 25 percent for online. It forecasts a strong Black Friday.
Many people will be shopping the deals online on Friday, according to most projections, but ShopperTrak says Black Friday will still be the busiest day of the year for bricks and mortar shops.
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