retail sales growth

Retail spending will see a 3.1 percent growth across 2016, the National Retail Federation reports.

America’s largest retail group said in its annual economic forecast that employment gains and increasing consumer confidence were slowly helping to steer the U.S. economy back into growth.

As a result of that improving economic climate, researchers reckon spending in 2016 will outpace the retail industry’s ten-year average of 2.7 percent.

This year’s growth will be led by America’s rapidly expanding digital retail market. Non-store sales are expected to enjoy a noticeable spike in the coming months, settling somewhere between six and nine percent. This subcategory includes sales made online, via mobile devices and by catalog.

National Retail Federation Reports More Spending Likely

Retailers can also expect to see a boost in sales this year thanks to rock-bottom oil prices. Although consumers have been enjoying major savings at the pump since late 2014, a low level of confidence in the

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Source: Small Business Trends