2024 shopping predictions: elections, debt, evolving retail trends

The holiday season tends to be the busiest for retail sales, and going by how shoppers opened their wallets during the 2023 season, many are wondering if 2024 will be another banner season for retailers. Last year, the average consumer spent around $1,530 on gifts and other needs for the holidays, according to Mailmodo. The United States Department of Commerce indicated retail sales grew 4.

1% year over year in November 2023. Industry forecasters have made a few predictions for the 2024 holiday spending season, and these are some key takeaways..