The NRF has predicted US citizens 2020 to opt for a great holiday celebration, and hence they will spend to make that happen. The NRF today released its holiday forecast. It expects retail sales in Nov & Dec, excluding auto dealers, gas stations, and restaurants, to rise by 3.6 to 5.2% over 2019. Even at the low end, 2020 would outpace the average 3.5% holiday sales growth of last five years.
I will be curious to see if this in fact plays out this way, I for one am reducing my spending a little this year because I am giving to a few extra charities that support COVID victims and their families.