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The 8.3% holiday season increase was more than double the 3.5% average holiday increase over the previous five years.
“Faced with rising transmission of the virus, state restrictions on retailers and heightened political and economic uncertainty, consumers chose to spend on gifts that lifted the spirits of their families and friends and provided a sense of normalcy given the challenging year,” Mr. Shay continued.
There is also a promising prediction as President-elect
Joseph R. Biden prepares to take office.
“We believe President-elect Biden’s stimulus proposal, with direct payments to families and individuals, further aid for small businesses and tools to keep businesses open, will keep the economy growing,” Mr. Shay said. ....

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