Purdue Expert: Holiday Spending to Climb 4 Percent This Year

Holiday spending this year should rise about 4% over 2013 levels, but it won't be all good news for all retailers, that's according to Purdue professor of retail management, Richard Feinberg. The growth would be a marked increase over the 2.8% sales growth last year over the previous year. Feinberg said that while sales are likely to increase, so are the number of retailers and Internet sites available to consumers, which will ultimately dilute sales growth for many retailers. Total U.S. holiday spending will be close to $986 billion, Feinberg predicted in a news release issued by Purdue on Monday. He said surveys show that shoppers are likely to spend an average of $650 to $725 on gifts.