Outlook for holiday retail sales
Former Toys R Us CEO Gerald Storch discusses his outlook on holiday retail sales.
The time between Thanksgiving and Christmas will be the shortest in six years, which is why many retailers are trying to get a head start.
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Walmart started offering holiday deals online before Halloween, for example, while Zales and Kay Jewelers said they spent more on ads between August and October.
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Amazon doesn’t expect a big drop-off, either.
“The purchases tend to move around,” Amazon Chief Financial Officer Brian Olsavsky, told the Associated Press, while adding shoppers could buy later in the season since the gifts will be delivered quickly.
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There could be a dip of $1 billion in revenue from the short season, according to Adobe Analytics data, but experts forecast online sales will hit a whopping $143 billion, up 14 percent from 2018. The National Retail Association predicts a spending increase around 4 percent for November and December, compared to the 2 percent from last year.
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