Holiday Spending Still Growing but Slowing as Shoppers Increasingly Go Online
• Holiday spending expected to reach record highs this year, but growth slowing to 3-4%
• Online holiday sales projected to increase 7-9%, outpacing in-store
• 182 million estimated to shop Thanksgiving weekend, up over 15 million from 2021
• Brick-and-mortar stores reporting lower Q4 outlooks and possible traffic/sales declines
• Some small business owners seeing decreased sales, profits, and in-store traffic in 2022