ARIZONA NEWS

Holiday sales expected to be robust in Arizona despite supply woes

Oct 26, 2021, 8:45 AM

(Pixabay Photo)...

(Pixabay Photo)

(Pixabay Photo)

PHOENIX — Despite the major supply chain issues as a result of the pandemic, a Valley economist expects plenty of holiday cheer for retailers this season.

Jim Rounds of Rounds Consulting Group estimates retail sales will be up 10% annually in Arizona from mid-November to the end of the year, with online sales at 15%.

According to Retail Dive, Wells Fargo analysts estimate national retail sales during the holiday season will hit a record gain of 11% over last year.

“We’re looking at significant dollar amounts,” Rounds said. “I’m expecting a really big fourth quarter with strong retail sales into the first half of 2022.

“Expect strong holiday sales. Our overall economic base in terms of consumer spending is very significant.”

One big red flag for Rounds is that the economy is overstimulated with low costs of borrowing and trillions of dollars’ worth of stimulus money circulating.

“This is eventually going to bring higher interest rates,” he said. “We’re borrowing from the future so enjoy it now, because down the road we’re going to pay the price for this spending, but have a good shopping season.”

The National Retail Federation says retail sales during 2020’s November-December holiday season grew an unexpectedly high 8.3% from the previous year to $789.4 billion despite the economic challenges of the coronavirus pandemic.

The group projects that consumers will spend an average of around $1,000 each on holiday shopping this year.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Sean Bickings (Family Photo via city of Tempe)...

Associated Press

Family of man who drowned last year in Tempe Town Lake files wrongful death lawsuit

The family of a man who drowned in Tempe Town Lake a year ago filed a wrongful death lawsuit against the city Wednesday, noting that its police department doesn't have a policy requiring officers to go into the water to save someone.

20 hours ago

FILE - Cracked dry mud is seen in a community reservoir that ran nearly empty after its retaining w...

Brandon Gray

BLM to invest over $15M in Arizona for landscape restoration project

The Bureau of Land Management has selected Arizona for its “Restoration Landscapes” project. 

20 hours ago

(AP Photo/Alberto Mariani, File)...

Associated Press

Former Arizona official who claimed election deniers made work ‘toxic’ gets $130K settlement

A former elections official for a rural Arizona county where leaders have embraced election conspiracy theories has received a $130,000 settlement over toxic work environment claims.

20 hours ago

The stretch of 12th Avenue between Washington and Jefferson streets at the Zone homeless encampment...

Kevin Stone

2nd block cleared out in Phoenix’s Zone homeless encampment

A second block at the Zone homeless encampment in downtown Phoenix was cleared Wednesday as enhanced cleanup operations continue.

20 hours ago

Booking photo for Melissa Larue, who was released from the hospital and taken to jail after getting...

KTAR.com

Woman shot by Phoenix officers last week jailed after release from hospital

A woman shot by police officers in Phoenix last week has been released from the hospital and taken to jail, authorities said.

20 hours ago

(KTAR News Photo/Jason Veazey)...

KTAR.com

Fire closes eastbound Loop 101 ramp to southbound State Route 51 in Phoenix

A fire closed the eastbound Loop 101 ramp to southbound State Route 51 in Phoenix for about three hours on Wednesday afternoon.

20 hours ago

Sponsored Articles

...

OCD & Anxiety Treatment Center

5 mental health myths you didn’t know were made up

Helping individuals understand mental health diagnoses like obsessive compulsive spectrum disorder or generalized anxiety disorder isn’t always an easy undertaking. After all, our society tends to spread misconceptions about mental health like wildfire. This is why being mindful about how we talk about mental health is so important. We can either perpetuate misinformation about already […]

...

SANDERSON FORD

Thank you to Al McCoy for 51 years as voice of the Phoenix Suns

Sanderson Ford wants to share its thanks to Al McCoy for the impact he made in the Valley for more than a half-decade.

...

OCD & Anxiety Treatment Center

How to identify the symptoms of 3 common anxiety disorders

Living with an anxiety disorder can be debilitating and cause significant stress for those who suffer from the condition.

Holiday sales expected to be robust in Arizona despite supply woes