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Bain estimates that from Black Friday to Cyber Monday, US retail sales could reach a record-breaking $75 billion. Retailers can expect another doorbuster Black Friday–to–Cyber Monday shopping period. Oct 15 (Reuters) - U.S. holiday sales are expected to grow as much as 3.5%, the slowest pace in six years, the National Retail Federation forecast on Tuesday, as shoppers turn more frugal and get... WASHINGTON – Consumer spending on the winter holidays is expected to reach a record $902 per person on average across gifts, food, decorations and other seasonal items, according to the National Retail Federation’s latest consumer survey conducted by Prosper Insights & Analytics. The holiday forecast is consistent with NRF’s forecast that annual sales for 2024 will be between 2.5% and 3.5% over 2023. A primary contributor of overall retail sales growth is expected from online shopping. EY-Parthenon forecasts a modest 3% rise in retail sales for the November and December 2024 holiday season, with downside risks on the horizon. Holiday sales are expected to surpass $1 trillion, setting a record high, but the 3% growth will lag the 4% gain in 2023 and 5.2% in 2022. 55% of holiday shoppers make purchases during early holiday sales before Thanksgiving. By the Thanksgiving weekend, 85% of consumers have started their holiday shopping. Holiday shoppers in 2024 are 15.4% more likely to begin shopping by early November than shoppers in 2019 (pre-pandemic). In 2024, the combined value of e-commerce revenue generated over the Thanksgiving weekend, including Black Friday and Cyber Monday, was forecast to reach over 30 billion U.S. dollars. Adobe forecasts consumers will spend a record $241 billion online during the 2024 holidays, up 8.4% from 2023. Mobile spending momentarily overtook desktop spending during the 2023 holidays and will be even more prominent in 2024. Retail sales between November 2023 and January 2024 (seasonally adjusted and excluding automotive and gasoline) grew 4.3% and totaled $1.49 trillion, according to the U.S. Census Bureau.

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