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The National Retail Federation said Tuesday it expects sales in November and December, excluding autos, gas and restaurant sales, to increase 3.6% to $655.8 billion — significantly higher than the 10-year average of 2.5% and above the seven-year average of 3.4% since the economic recovery began in 2009.
The International Council of Shopping Centers also released its annual holiday forecast, predicting that holiday sales in stores would rise 3.3%, up from the 2.2% increase in the year ago period.
Individual holiday shoppers plan to spend an average of $683.90 this year, according to the ICSC Holiday Shopping Intentions Survey.
This is an excerpt from this full article posted on RetailDive.com.