NewsNational News

Actions

Record holiday spending expected this year

Record holiday spending expected this year
Posted at 1:06 PM, Oct 28, 2021
and last updated 2021-10-28 14:08:42-04

The National Retail Federation predicts holiday shopping sales will reach a record of between $843 and $859 billion.

Much of that money will be spent online.

But this year's shopping selection could be limited because of supply chain issues.

A bottleneck of ships at U.S. ports and a trucker shortage are making it harder for retailers to get products on store shelves.

That's why experts are telling us to shop soon.

"Christmas gifts and toys. They're going to be short supplied," said Larry Gurino, owner of House of Holiday. "So you're going to need to buy a little earlier and help Santa out."

The NRF also announced that prices for gifts will likely be higher this year because of inflation.