Holiday retail shopping is expected to start earlier, offer with more promotions and see more sales despite the challenges of a tight labor market, lingering supply chain issues, stubborn inflation and soft consumer sentiment.
CBRE is projecting a 6.9% increase in Q4 retail sales year-over-year to $1.48 trillion, despite inflation straining consumer budgets.
"Consumers can expect greater costs this holiday season, evidenced by an 8.2% annual increase in the Consumer Price Index (CPI) in September," CBRE reported.
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