US Holiday Spending Projected to Exceed $1 Trillion in 2025

Holiday spending will surpass $1 trillion this year and set a record despite consumer caution, according to a forecast by the National Retail Federation.

Consumers plan to spend nearly $900 per person on average this year, while retail sales are expected to increase in a range of 3.7% to 4.2% from a year earlier, according to the group.

“We remain bullish about the holiday shopping season and expect that consumers will continue to seek savings in nonessential categories to be able to spend on gifts for loved ones,” NRF President and Chief Executive Officer Matthew Shay said during a ...