Carbon fiber felt,Carbon fire blanket,Carbon fiber,Carbon felt Foshan Huicai Non-woven Technology Co.,Ltd , https://www.huicainonwoven.com
US Christmas prices will increase by 10% from last year
According to the latest survey by the National Retail Federation (NRF), this year’s Thanksgiving weekend shopping season is showing strong growth, with average spending per person expected to rise by 6.4% compared to last year. Department stores are leading the way, drawing in the largest number of shoppers. As the holiday season approaches, data from PNC Financial Services Group reveals that the Christmas price index is projected to increase by 10.8% this year.
From November 25 to November 28, the total retail shopping crowd reached nearly 212 million people, marking an 8.7% increase compared to the same period in 2009. During this four-day span, total consumer spending is estimated to hit $45 billion—up from $41.2 billion in 2022. The average spending per person has also climbed, rising from $343.31 to $365.34.
The NRF study also highlights a growing preference for department stores, with 52% of shoppers planning to buy there this year, up slightly from 49.4% last year. Similarly, clothing retailers saw an increase in traffic, with 24.4% of consumers planning to shop at clothing stores, compared to 22.9% in 2022.
Consumer spending remains a major driver of the U.S. economy, accounting for about 70% of GDP. Analysts believe that as more people feel financially secure, they are likely to keep spending, especially if they avoid focusing all their purchases on Black Friday. This trend could lead to a more evenly distributed shopping season.
In addition, PNC's annual "Twelve Days of Christmas" price index shows that the cost of purchasing all 364 items mentioned in the classic song has risen to $98,224 this year—a 10.8% increase over last year.
Despite the rising prices, some experts see the trend as a positive sign. According to the PNC Group’s chief investment officer, “The good news is that the economy is improving and we’re starting to see prices slowly rise, which is a sign of recovery.â€