Retailers expecting slower holiday shopping season
PITTSBURGH (KDKA) - This holiday season, Americans are expected to splurge, but not as much as last year.
The National Retail Federation predicts sales to increase by up to 4%. That's less than the 5.4% growth in 2022.
The NRF attributes the slower growth to inflation, higher borrowing costs, and student loan repayments resuming.
Retailers are also ramping up discounts to draw in consumers.
