KTAR News – Holiday Sales Expected to be Robust in Arizona Despite Supply Woes
Despite the major supply chain issues as a result of the pandemic, a Valley economist expects plenty of holiday cheer for retailers this season.
Jim Rounds of Rounds Consulting Group estimates retail sales will be up 10% annually in Arizona from mid-November to the end of the year, with online sales at 15%.
According to Retail Dive, Wells Fargo analysts estimate national retail sales during the holiday season will hit a record gain of 11% over last year.
“We’re looking at significant dollar amounts,” Rounds said. “I’m expecting a really big fourth quarter with strong retail sales into the first half of 2022.
“Expect strong holiday sales. Our overall economic base in terms of consumer spending is very significant.”