US holiday season revenue forecast to exceed $1 trillion for first time

VTV.vn - US holiday spending in 2025 is forecast to exceed $1 trillion for the first time, reflecting strong purchasing power despite the economy being under pressure from inflation and tariffs.

Consumers shop at a supermarket in California, USA. Photo: THX/TTXVN

The annual report of the National Retail Federation (NRF) released on November 6 shows that spending during the 2025 holiday season in the US is expected to surpass the $1,000 billion mark for the first time. This forecast is considered a positive signal for the US economy , although the country is facing prolonged inflation, new tariffs and the risk of government shutdown.

According to NRF, retail sales in November and December 2025 will increase from 3.7% to 4.2% compared to the same period in 2024, reaching about 1,001 - 1,002 billion USD . Last year, this figure reached 976.1 billion USD, up 4.3% compared to 2023.

NRF President Matthew Shay said U.S. consumers remain strong despite being more cautious about spending, and he expects them to prioritize their holiday spending and gifts. NRF Chief Economist Mark Mathews said the U.S. economy continues to show remarkable resilience to the effects of inflation and trade uncertainty, while retailers work to keep prices under control.

To meet shopping demand, the NRF forecasts that retailers will hire 265,000 to 365,000 additional seasonal workers , reflecting a slowing job market. However, the temporary shutdown of the federal government could affect income and consumer confidence if it lasts longer.

Americans expect to spend an average of $890.49 on gifts, food and decorations, the second-highest amount in more than two decades of surveys, according to a survey by NRF and Prosper Insights & Analytics.

According to NRF, the retail sector currently contributes $5.3 trillion to US GDP each year and employs about 55 million workers , equivalent to more than a quarter of the country's workforce.

Source: https://vtv.vn/doanh-thu-mua-le-hoi-tai-my-du-bao-lan-dau-vuot-1000-ty-usd-10025110706374903.htm