Columbus, Ohio (WCMH) — The holiday season can change your shopping habits over the past few years.of retailers council When University of Cincinnati Economic Center We partnered with you to forecast your spending this holiday season.
The holiday season, as defined by the Ohio Retailers Council, runs from October through December. Expected growth in nine metropolitan areas statewide.
“Ohio’s retail spending is forecast to grow 3.4% over the 2021 holiday season,” said Brad Evans, research director at the University of California’s Center for Economics.
Evans said he expects total statewide sales to be $31.3 billion, compared to $30.3 billion in holiday season sales last year.
“Cincinnati, Cleveland and Columbus, Ohio’s largest metropolitan areas, will account for more than half of statewide vacation spending,” Evans said.
Evans said Columbus is expected to grow the most in terms of nominal spending at $6.5 billion, followed by Cleveland at $5.6 billion.
Overall, however, the statewide sales forecast does not equate to the national forecast for this holiday season. National Retail Federation forecasts 6% to 8% growth nationally, and Deloitte forecasts 4% to $6 growth nationally.
“The economy is facing headwinds, including inflation and other concerns about recession,” Evans said.
Evans said consumers in the state have become accustomed to buying online, so he expects that to continue, accounting for a significant number of sales.
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https://www.nbc4i.com/news/state-news/holiday-spending-predicted-to-increase-this-year/ 2022 year-end sales forecast | NBC4 WCMH-TV