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Holiday shopping expected to reach over $1 trillion as inflation surges

Added 11-25-22 11:04:03am EST - “Holiday shopping is expected to increase by 7% to nearly $1.3 trillion, a new forecast says. Here's how to stay on track with your finances this holiday season.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Holiday shopping expected to reach over $1 trillion as inflation surges”. Below is an excerpt from the article.

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Holiday shopping is expected to increase to more than $1 trillion for 2022, according to a forecast by Insider Intelligence and eMarketer. (iStock)

High inflation and fears that a recession could be on its way won’t stop holiday shopping from being robust this year, according to a recent forecast by Insider Intelligence and eMarketer. In fact, inflation could even propel holiday sales.

Consumer spending is projected to grow 7% to nearly $1.3 trillion, the forecast said. However, it noted that much of this gain is due to inflation.

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