Sales for the holiday season from Nov. 1 to Dec. 31 will exceed $1 trillion for the first time ever this year, according to a report from eMarketer Retail.
The report cites “low unemployment, strong income growth, and high consumer confidence” as the factors behind the spend increase, as well as the 32-day period between Thanksgiving and Christmas.
The report anticipates a 4.4 percent increase in brick-and-mortar sales to $878.38 billion.
“Not every brick-and-mortar retailer is thriving, and several have shut their doors this year,” says eMarketer’s principal analyst, Andrew Lipsman. “But others are really capitalizing on the strong consumer economy. Retailers are luring in shoppers with remodeled stores, streamlined checkout and options to buy online, pick up in-store.”
Ecommerce sales are expected to increase 16.6 percent to $123.73 billion. This will total 12.3 percent of all holiday retail sales for the year.