Retail Sales Expected to Increase Up to 4% This Holiday Season

There's good news for retailers this holiday season, according to Deloitte's latest forecast. Holiday sales are expected to increase 3.5 to 4 percent this year as online shopping continues to bolster brick and mortar stores. The report projected 2015 holiday shopping sales to reach between $961 and $965 billion in the U.S. Digital interaction is expected to be responsible for $434 billion of spending, while online and mail order revenue channels are estimated to grow up to 9 percent. Deloitte credits the positive figures to an improving labor market, cheap gas prices and the climbing cost of property. The company doesn't see the current stock market turbulence influencing this year's shopping intentions. But though holiday sales are expected to grow, the rise may be smaller than last year's as wages remain stagnant.