By Brittney Sherman
Despite the early arrival of major shopping holidays like Thanksgiving and Cyber Monday in December, November retail sales remained robust, according to the NRF/CNBC Retail Monitor. This activity indicates that consumers are still eager to spend, with online sales leading the charge. While some categories such as electronics and appliances experienced declines, overall retail sales are on track to meet 2024 holiday shopping predictions.
The NRF's optimistic forecast for the holiday season suggests a 2.5% to 3.5% increase in retail sales compared to the previous year. As the holiday season progresses, it will be interesting to see how consumer spending evolves and whether retailers can capitalize on the remaining shopping days to drive sales.
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