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U.S. holiday sales to rise as much as 10.5%, hit record levels in 2021

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© Reuters. FILEPHOTO : FILEPHOTO – Shoppers carrying bags of merchandise bought at King of Prussia Mall (USA’s largest retail space), King of Prussia in Pennsylvania on December 8, 2018, U.S.A. REUTERS/Mark Makela/File Photos/File Photograph

(Reuters] – The U.S. Holiday Sales could increase by over 10% in 2021 according to a trade organization. Major retailers and consumer goods manufacturers are working together to make sure that there is no disruption in supply chain, so shelves don’t become empty of the most in-demand toys.

National Retail Federation (NRF), which forecasts sales increasing between 8.5%-10.5% to $843.4 Billion and $859 Billion during November, December and January, as compared to an earlier high of $777.3B in 2020. This excludes automobile dealers and gasoline stations, as well as restaurants.

Preparing for the holiday season is the U.S. retail groups forecast. It’s one of most closely followed benchmarks. Target Corp (NYSE 🙂 accounts for a significant portion of both their profits and sales.

Several shoppers were concerned they would have difficulty finding electronics, clothes and toys due to supply issues brought on by COVID-19, a survey from NRF and research firm Prosper Insights & Analytics showed last week.

Jack Kleinhenz (NRF Chief Economist) stated that “if retailers can keep merchandise up on the shelves, and merchandise arrives before December 1, it could be an excellent holiday sales season.”

There are many companies that make toys. Hasbro Inc (NASDAQ: Mattel Inc (NASDAQ) – They said that consumers would find products they need during holidays, even though there has been a shortage of products and high freight costs.

Amazon has increased its capacity for container processing and secured greater shipping storage with ocean freight carriers. Meanwhile, other companies have been redirecting cargo to the East Coast, away from congested West Coast.

Numerous retailers started holiday sales in September. They warned their customers about the possibility of selling out and that delivery might take longer than normal.

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