Economy

NRF Forecasts

2023 Winter holidays forecast

The NRF forecasted that holiday spending was expected to reach record levels during November and December and would grow between 3% and 4% over 2022 to between $957.3 billion and $966.6 billion.

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Winter holiday shopping
 
2023 Retail sales forecast

The NRF anticipated that retail sales would grow between 4% and 6% in 2023. In total, NRF projected that retail sales would reach between $5.13 trillion and $5.23 trillion in 2023.

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Shopping
 
2023 annual retail sales forecast FAQs

Learn more through the answers to frequently asked questions about the NRF's annual retail sales forecast from 2023.

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Shopping
 

More economic and consumer research from NRF

Monthly Economic Review
Labor Market and Interest Rates Will Play Major Roles in 2024
 
What happens with the economy in 2024 could depend largely on the labor market and what the Fed does with interest.
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Monthly Economic Review
Monthly Economic Review: February 2024
 
2023 closed the year with surprisingly strong growth.
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Retail Insights and Trends
Retail Holiday and Seasonal Trends
 
Consumer spending data for retail holidays throughout the year.
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