Holiday Retail Sales Growth Expected to Slow This Year as Shoppers Face Economic Headwinds

Holiday retail sales are expected to increase 3-4% this year, lower than the 5.3% growth in 2022 and 12.7% growth in 2021.

E-commerce sales are forecast to grow 7-9%, faster than overall retail sales growth.

Consumers face economic pressures like higher interest rates, credit card debt, and expired student loan payment pause.

Retailers see signs of resilience but expect moderation in spending compared to pandemic peaks.

Major retailers like Walmart and Target will report holiday quarter earnings and outlooks this month.