Holiday retail sales expected to increase this year

Retail sales are expected to rise more than 4 percent compared to last shopping season, according to Deloitte’s annual retail holiday sales forecast.

Total holiday sales — seasonally adjusted and excluding motor vehicles and gasoline — are expected to reach $1.04 to $1.05 trillion between November and January, Deloitte reported. Deloitte also forecasts an 18 to 21 percent increase in e-commerce sales in 2017 compared with 2016.

E-commerce sales are expected to reach $111 to $114 billion during the 2017 holiday season.

"The projected uptick in holiday sales ties to four primary factors affecting consumer spending, starting with anticipated strong personal income growth," said Daniel Bachman, Deloitte's senior U.S. economist. "Last year, disposable personal income grew 2 percent over the year to the holiday period, and we may see that rise to a range of 3.8 to 4.2 percent this season."

This is partly attributed to elevated consumer confidence and a strong labor market.

FIVE FAST BUSINESS READS

• Chicago in minutes? Columbus named as finalist for Hyperloop

• Toys ‘R’ Us files for bankruptcy: What’s really going on?

• Amazon confirms Monroe fulfillment site: Here’s what we know now

• Walgreens acquires Rite Aid for $4.4B: What it means for consumers

• Bob Evans Farms has been sold for $1.5B

In Other News

EXCLUSIVE: Amazon considers building Ohio data center in Fayette County

Centerville’s first collaborative workspace to debut in city’s uptown

WOMEN IN BUSINESS: Ashley Scharrer, president of Moonlight Security...

Cincinnati Children’s continues upward expansion with plans for...