NRF predicts retail sales will grow 4% this year

Ashley Davis

The National Retail Federation has predicted that retail sales will increase between 3.7 percent and 4.2 percent in 2017.

Online sales and non-store/online sales are expected to increase between 8 and 12 percent, a figure that is included in the overall 3.7-4.2 percent prediction.

The economy is on firm ground as we head into 2017 and is expected to build on the momentum we saw late last year,” said NRF President and CEO Matthew Shay. “With jobs and income growing and debt relatively low, the fundamentals are in place and the consumer is in the driver’s seat.

NRF’s Chief Economist Jack Kleinhenz said: “It is clear that online sales will continue to expand in 2017 and provide growth for the retail industry. But it is important to realize that virtually every major retailer sells online and many of those sales will be made by discount stores, department stores and other traditional retailers. Retailers sell to consumers however they want to buy, whether it’s in store, online or mobile.

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Source National Jeweler