FRANKFORT, Ky. — As businesses across the commonwealth gear up for what experts predict will be a busy holiday shopping season, the Kentucky Retail Federation (KRF) encourages people to support retailers in their communities.
“Retailers in Kentucky have shown a great deal of resilience and innovation over the last few years and continue to find new ways to meet their customers’ needs,” said Tod Griffin, president of the Kentucky Retail Federation.
Despite concerns about inflation and the economy, the National Retail Federation (NRF) forecasts that holiday retail sales during November and December will rise between 6 and 8 percent over 2021 for a total of $942.5 billion to $960.4 billion. Consumers plan to spend an average of $832.84 on gifts and holiday items such as decorations and food.
Consumer preferences on shopping destinations and desired gifts remain consistent compared to 2021, according to the NRF. The highest percentage of respondents said they’ll be making holiday purchases online (56 percent), followed by discount stores (48 percent), department stores (47 percent), grocery stores (45 percent), clothing/accessories stores (31 percent) and local/small businesses (24 percent).
Additionally, at the top of customer wish lists are gift cards (54 percent), clothing or accessories (49 percent), books and other media (30 percent) and electronics (24 percent).
Retailers in Kentucky and across the U.S. have also been staffing up to ensure they can meet increased demand through the end of the year. The industry expects to hire between 450,000 and 600,000 seasonal workers in 2022.
While many shoppers have already begun bargain hunting, others are waiting for Black Friday (November 25), Small Business Saturday (November 26) and Cyber Monday (November 28). A record 166.3 million people are expected to shop from Thanksgiving Day through Cyber Monday this year, per the NRF.
“Whether you’re shopping in-store, purchasing online, buying gift cards, or engaging with them on social media, there are many ways we can show up to support our Kentucky retailers during this season of giving,” added Griffin.
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