Record Holiday Sales? Mostly, It's The Price

While holiday spending is typically predictable, this year may not be especially joyful. “Underlying the headwinds faced by retailers are cautious consumers whose spending power is being weighed down by gasoline prices that remain stubbornly high, as well as the impact of tariffs, geopolitical uncertainty and labor market participation at a five-year low,” Bain & Co. notes in its forecast. And people have less in savings and more in debt.