Oct 8, 2007

Holiday sales to grow by 4 percent to $447.5 billion: NRFBy Dianna DilworthDMNews.com

Holiday sales are expected to grow by 4 percent this year to $447.5 billion, which is the slowest holiday growth since 2002, according to the National Retail Federation (NRF).

In a holiday preview call, titled “Hot or Not: A 2007 Holiday Preview,” the NRF’s Scott Silverman said that, while this year’s holiday growth is expected to grow more slowly than in years past, it will still be up significantly from 2002, when sales grew by only 1 percent.

“While this may not be the rosiest of predictions, this is certainly not a ‘sky is falling’ mentality,” he cautioned. “Consumers will be more conservative in their holiday spending, but they will still be out shopping.”

In the fashion and apparel categories, expect to see evening wear and diamonds driving sales. In addition, tailored denim products — across men’s, women’s and children’s wear — will be a hot item. Women’s boots also will help drive sales this holiday season, with a focus on three-quarter length boots rather than knee length.

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