Fox News: Holiday Sales Expected to Decline

MonicaMehta1114 final

The National Retail Federation estimates a 10% decline in Holiday spending in 2013.  The average family is expected to spend $704 in 2013 on gifts, down from $770 in 2012.  Digging deeper within the numbers, lower income families making less than $30K per year are expected to increase spending (by 20% to $467) while middle and upper middle income families making $30K and $75K+ are expected to rachet holiday budgets by 8-10%.   Retailers are feeling the pressure and responding with aggressive (early promotions).  The holiday shopping season in 6 days shorter in 2013.  Monica discussed this and more with Neil Cavuto and Melissa Francis.

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