The National Retail Federation (NRF) has raised its full-year sales forecast from 3.1% to 3.4% growth over last year due to improvements in the US housing market, job growth, and improved wages.
“Economic indicators are showing positive trends for retail,” NRF President and CEO Matthew Shay said in a news release. “Challenges remain, with some greater than others depending on the retail category, but consumer confidence remains high and we believe that retail customers will continue the positive trends we have seen in the first two quarters of the year.”
According to the NRF, online and other non-store sales, are expected to increase 7-10 percent year-over-year rather than the 6-9 percent forecast earlier.
While this is an optimistic outlook for the US retail market, 2016 is also an election year, which sometimes can mean consumers are spending more cautiously because of uncertainties.
With more people expected to be spending money on retail, you want to make sure your products are getting noticed. Whether you are selling in stores or online, you need to have packaging that can help you stand out!