Share to Twitter Share to Linkedin The leading shopping center and mall industry organization is feeling quite optimistic about the upcoming holiday season, despite supply chain headaches, and is forecasting that sales in November and December will jump by 8.9% compared to last year. The industry group, ICSC, is predicting holiday spending this year will outpace the record-breaking growth of Christmas 2020. Last year, spending rose by 8.3%. more than double the 3.5% average growth of the previous five years, according to holiday figures reported by the National Retail Federation. "I think this is going to be a very strong holiday season, for obvious reasons," ICSC President and CEO Tom McGee said. "The economy is strong, consumer spending has continued to be strong despite the challenges related to the pandemic, and there's a tremendous amount of personal savings and pent-up demand," McGee said. McGee did caution, however, that the unprecedented supply chain backlogs could derail the rosy forecast. "I do worry about the supply chain. To me, that's the biggest risk around the holiday," McGee said. Supply chain issues, he said, will cause the holiday season to start earlier, with consumers seeking to avoid out-of-stocks and shipping delays. "I don't… Read full this story
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