FOR IMMEDIATE RELEASE November 17, 2023
Contact: Bryan Wachter (775) 771-8969 | Bryan@RANNV.org
Nevadans Expected to Spend $6.4 Billion this Holiday Season Statewide Holiday Spending Projected to Grow by 4 Percent The Retail Association of Nevada (RAN) forecasts consumer retail sales in Nevada to grow by 4 percent during the holiday shopping season this year to reach a record $6.4 billion. The traditional holiday shopping season spans November and December, and consumer spending figures exclude auto sales, restaurants and gasoline. On the national level, holiday consumer spending is projected to increase between 3 percent and 4 percent, according to the National Retail Federation (NRF). Consumers are once again expected to prioritize the holiday season and spend their hardearned income on those important to them. At the same time, consumers are actively looking for ways to help stretch their budgets this year. Roughly 62.0 percent of consumers indicated that targeting sales and promotions will be more important than ever this year. Another 36.0 percent of consumers said they would cut back in other areas of spending to cover the cost of holiday items. Other cost-cutting measures include purchasing gifts for fewer people (30.0 percent) and buying less for themselves (27.0 percent). The holiday shopping season has begun to start earlier and earlier with each year. This year, 43.0 percent of shoppers indicated that they would be shopping before November. Top reasons for getting an early start included having more time to spread out their budgets (60.0 percent), avoiding the stresses that come with last-minute shopping (46.0 percent)
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