Retail holiday sales should increase over the 2023 holiday season between 3-4%, according to The National Retail Federation (NRF). Since 2009, sales in the industry have grown each year, with the highest increase reaching 13.5% in 2021, shattering previous records. Although the growth rate is slower this year than in recent years, the increase aligns with pre-pandemic growth levels. Not surprisingly, online sales are also set to increase 7-9%.

“Consumer behavior continues to shift post-Covid with online sales set to increase in upwards of 9%,” said Cailey Locklair, President of the Maryland Retailers Alliance (MRA). “Consumers should be reminded to support local stores as much as possible as they impact our communities with jobs and tax revenue to support the things we all care about.”

Click here to review our Holiday Sales Forecast as posted by Eye On Annapolis.