Holiday shoppers expected to spend $602 billion in 2013
MINNEAPOLIS (KMSP) -
Holiday sales are expected to increase 3.9 percent in 2013 to $602 billion, according to the National Retail Federation.
That's well above the 3.5 percent increase in 2012 and the 3.3 percent average over the last 10 years.
The federation says that while Americans are increasingly optimistic about the economy, the government shutdown could change that sentiment. Sales could drop if 800,000 federal workers remain off the job and shoppers begin losing confidence in the economy.
NOTE: The forecast was calculated before the partial shutdown.
START SHOPPING IN OCTOBER
Pricing data requested by the Wall Street Journal last season shows October and early November could be the best time for deals on some of the most popular holiday gifts, including toys.
Consumer price research firm Decide Inc. analyzed two to six years' worth of data, finding many of those last-minute gifts get more expensive as the shopping season gets closer to the holiday deadline.