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Wednesday, January 26, 2022

Retailers Ready For Christmas Week Hype Amid Supply Chain Concerns And Omicron

US retailers are gearing up for the final week of the holiday shopping season starting December 17.

The 2021 holiday season is expected to grow by 11.5% over last year.

The last-minute Christmas rush, which kicks off Saturday, is the most lucrative season for retailers in the fourth quarter.

Super Saturday is expected to attract over 148 million shoppers to stores and online stores, according to an annual survey by the National Retail Federation and Prosper Insights & Analytics.

This number reflects a slight decline from last year’s Super Saturday, when 150 million consumers were expected to shop, higher than the estimated 147 million shoppers in 2019.

Consumers spent a total of $ 997.73 on holiday shopping this year, according to a report by the National Retail Federation (NRF).

“Consumers have responded with growing eagerness to kickstart the holiday shopping season early, and they expect to maintain that momentum throughout the last few weeks of the year,” said Matthew Shea, President and CEO of NRF.

The strong wave of early holiday shopping encouraged by many retailers in the past month could result in some consumers spending less at the end of the season.

Roughly half of consumers said they had made their holiday purchases by early December.

The report says the number of expected shoppers on Super Saturday is the third highest since tracking began in 2016.

More than a quarter of consumers say they plan to shop exclusively in-store, another third plan to shop exclusively online, and the rest intend to do both.

Retailers are also facing supply chain bottlenecks, which have eased in recent weeks but are still a challenge.

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“Retailers have begun preparing for the holiday season months in advance by offering seasonal stocks ahead of time and taking preventive measures to get around the supply chain problems exacerbated by the pandemic,” Shay said.

However, many shoppers still have trouble sourcing retail items as shoppers are unable to make certain holiday purchases due to low or no stock levels.

Much of the United States is facing mild temperatures and this week will be one of the warmest mid-December weeks in over 60 years.

We hope warmer weather can encourage consumers to spend more time in retail stores rather than spending time online at home, but fear of the Omicron CCP (Chinese Communist Party) virus may push shoppers to stay at home.

The Omicron option has already led some people to rethink travel plans, cut back on family and social gatherings, or cut spending on food and entertainment.

Major retailers such as Target, Kohl’s and Walmart have increased regular store opening hours and expanded their delivery and delivery services on the same day on Christmas Eve.

Retailers are already gearing up for the post-Christmas sales, which will run until the new year.

An NRF poll found that 65 percent of holiday shoppers plan to shop in the week after Christmas, mostly to take advantage of in-store promotions and gift cards.

To follow

Brian S. Jung is a native and New Yorker with a background in politics and the legal profession. Graduated from Binghamton University.

World Nation News Deskhttps://www.worldnationnews.com
World Nation News is a digital news portal website. Which provides important and latest breaking news updates to our audience in an effective and efficient ways, like world’s top stories, entertainment, sports, technology and much more news.
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