The National Retail Federation: Retail sales will increase between 2.5% and 3.5% in 2024

The National Retail Federation (NRF) forecasts that retail sales will increase in 2024 between 2.5% and 3.5%. That is between $5.23 trillion and $5.28 trillion. It indicates that the market is still resilient and there is continued support to the economy from the retail industry and consumer spending. Theoretically, the U.S. economy is doing well and some projections of recession have not taken hold. We are still in a growth mold. Moderate can be a good thing for stabilization and balance.

More about retail...

Retail is the heartbeat of communities.

Retail is the heartbeat of communities.
Invest in Escanaba. Spaces for retail downtown
Escanaba Coffee photo in Wooded Pathway

Retail are those items we buy at the store and purchase online. The more people buy, the higher the economy. Downtowns and communities often live or die off of their retail quality. Retail is based on consumer demand. Where we purchase our products and who produces them counts.

There is a benefit in selling to consumers to generate taxes and wealth but it is also equally important for U.S. companies to start developing their retail production. Advanced manufacturing and innovation can make American products more appealing. The more we sell of our own, the more we receive the full benefits. 

You may be interested in understanding what the National Retail Federation does. They often seek to understand the market and the changes for their members and the industry in general. 

About NRF

"The National Retail Federation passionately advocates for the people, brands, policies, and ideas that help retail succeed. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $5.3 trillion to annual GDP and supporting more than one in four U.S. jobs — 55 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring, and communicating the powerful impact retail has on local communities and global economies. nrf.com "(NRA, 2024 Para 12).

Source: NRF