Holiday sales are expected to grow up to 4.8 percent this year

Get ready for longer lines and slower internet while shopping this holiday season as sales are expected to increase as consumers continue to spend more across the board.

The National Retail Federation estimates the sales will increase between 4.3 percent and 4.8 percent, potentially reaching more than $720 billion, according to a statement.

This builds on the 5.3 percent increase in 2017, the largest year-over-year increase since the end of the Great Recession in 2010.

“Our forecast reflects the overall strength of the industry,” NRF president and CEO Matthew Shay said. “Thanks to a healthy economy and strong consumer confidence, we believe that this holiday season will continue to reflect the growth we’ve seen over the past year.”

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Concerns about the trade wars effects on consumer spending still loom, but Shay said he is optimistic that increased economic activity will continue through the rest of the year.

NRF expects retail spending for the entire year to increase at least 4.5 percent.

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