This year’s holiday season is predicted to have lower sales figures than anticipated despite the positive economic conditions that have been supporting the American consumer.
Goldman Sachs’ analysts have revealed some disappointing news for retailers amidst the current economic growth in the US. The unprecedented growth in the economy has been largely fueled by a strong American consumer. However, signs of consumer weakness have emerged, which could impact retail performance this holiday season.
Recent retail data has shown a 3% decrease in year-over-year spending in September, contrasting with earlier expectations of a 3% growth. The analysts at Goldman Sachs have highlighted concerns surrounding a shorter holiday calendar as a potential challenge for retailers this season. They mentioned that historical trends suggest that a shorter holiday period could pose challenges for retailers based on past results.
