U.S. Consumer Confidence Slips as Virus Surges Into Holidays

Retailers were optimistic about holiday sales after a drop in COVID cases, expecting pent-up demand. However, a COVID rebound has led to uncertainty, with analysts unsure about the season's outcome. The National Retail Federation predicts a wide range of sales growth, while independent analysts are more pessimistic. Consumer confidence has declined, with buying plans for big-ticket items down. Online shopping is expected to dominate over in-store purchases.

What were retailers expecting for the holiday season after the drop in COVID cases?

What factors contributed to the uncertainty about the holiday season sales?

How did the National Retail Federation's forecast for holiday sales compare to previous years?

What was the general sentiment of consumers regarding their buying plans for the holiday season?

What trend is expected in online versus in-store sales during the holiday season?