Today, the holiday market is in full swing and everyone is ready to get their hands on a bunch of stuff to celebrate with family and friends.
Today, we’re bringing you the latest news about the holiday season and the holiday shopping season.
Today we bring you the news that the latest report on holiday spending reveals that in 2018, the US retail market will grow by more than $600 billion.
The report released today by the National Retail Federation and the National Association of Home Builders shows that the retail market in the US is set to grow by $6.8 trillion by 2023.
That’s a significant increase from the $4.6 trillion that was forecast in the last year.
In 2018, retail sales will increase by a whopping $600.9 billion in the United States, according to the report.
That makes for an average of $2,056.1 billion in spending per capita.
It is the second-highest increase in retail spending in history after the $3,845.2 billion increase in spending in 2017.
This growth will be fueled by the growing number of Americans that want to spend more.
The report shows that nearly a third of adults over the age of 30 are expected to spend $200 or more on holiday shopping in 2020.
The number of adults spending more than the median household income of $51,000 is expected to reach 30 percent of all adults.
The growth in spending will also be fueled partly by the popularity of online shopping.
According to the survey, 57 percent of Americans will shop online this holiday season.
The survey also found that online shopping accounts for about 6 percent of household spending.
That compares to 8 percent of consumers in 2018.