NRF Forecasts Increase in Holiday Retail Sales

According to a new report by the National Retail Federation (NRF), holiday retail sales are expected to increase 2.3 percent this year to $447.1 billion. Last year holiday sales increased 0.4 percent compared to 2008. In 2008, holiday sales declined 3.9 percent compared to 2007. The NRF reports that retailers are expected to focus on inventory control to limit unplanned markdowns. The NRF also expects new channels, such as mobile, to drive sales and provide added service.