Under the pressure of high inflation, the growth rate of US holiday season sales will slow down to 4%-6%!

It is learned that according to the latest forecast from Deloitte, sales in the 2022 US holiday shopping season will increase by 4% to 6% year-on-year, and sales growth will slow down compared with the same period in 2021 (15.1%).

Overall, U.S. holiday shopping season sales for 2022 will reach $1.45-1.47 trillion, compared with $1.39 trillion in the same period last year.

Specifically, e-commerce sales for the 2022 holiday shopping season will increase by 12.8% to 14.3%. The total e-commerce sales for the 2021 holiday shopping season were $231 billion, an increase of 8.4% year-on-year.

Deloitte analyst Daniel Bachmann pointed out that the slowdown in sales growth reflects the sluggish U.S. economy. Sales during this year's holiday shopping season were affected by the decline in demand for durable consumer goods. Before the epidemic, durable consumer goods have always been the main focus of consumer spending. As the epidemic eases, consumers will spend more on consumer services such as restaurants.

Nick Handrinoss, vice chairman of Deloitte, added: "With inflation continuing to rise and people's purchasing behavior changing, consumers will have less spending budget during this year's holiday season."

Nick Handrinoss further stated that prices continue to rise due to inflation, which may further boost sales growth of e-commerce in the U.S. For retailers, if they can meet the needs of consumers and provide convenient and affordable options, they can succeed in this holiday season.

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