Customer Growth Partners has updated its holiday forecast to a 5.8% year-over-year growth, to a record $749 billion.
“After the COVID store closures crushed sales by 12% in April, traffic and sales have rebounded ever since, culminating in the most recent actual data from the six mega-retailers that account for almost 30% of all U.S. retail sales,” said CGP president Craig Johnson. (The CPG forecast spans all retail sales except autos, gasoline and restaurants.)
According to Johnson, the steep 18.5% jump in combined third-quarter sales of Amazon, Costco, Home Depot, Lowe’s, Target and Walmart shows that consumers are out and buying in a way they haven’t been in over a year.
Source: Chain Storeage
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