Consumers are ready to spend and have the resources to do so, according to the National Retail Federation, which estimates retail sales to increase by 6% to 8% in 2022.
The 2022 figure compares with 14% annual growth rate in 2021, the highest growth rate in more than 20 years. This year's sales forecast is notably above the 10-year, pre-pandemic growth rate of 3.7%.
It should hit $4.86 trillion or more this year, according to NRF President and CEO Matthew Shay. "We should see durable growth this year given consumer confidence to continue this expansion, notwithstanding risks related to inflation, COVID-19 and geopolitical threats," he said in prepared remarks.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
