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Deloitte forecasts two potential holiday seasons

Posted On: Sep 16, 2020   |   Posted By: Fashion United

Deloitte has released its annual holiday retail forecast report. It is expected that holiday sales are likely to increase by 1 and 5 percent, and Deloitte's overall sales will be between 1,147 and 1,152 billion dollars during the period of November-January. E-commerce sales are projected to grow from 25-35 percent year-on-year during the holiday season of 2020-2021, compared to 2019 when sales only rose by 14.7 percent. Overall, holiday sales are expected to generate between 182 and 196 billion dollars this season. “The lower projected holiday growth this season is not surprising given the state of the economy. While high unemployment and economic anxiety will weigh on overall retail sales this holiday season, reduced spending on pandemic-sensitive services such as restaurants and travel may help bolster retail holiday sales somewhat.
"E-commerce is likely to be a big winner because consumers have shown a clear movement towards buying online rather than at brick and mortar stores,” said Daniel Bachman,...

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