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Vaccine heralds positive economic predictions for retailers

Vaccine heralds positive economic predictions for retailers Retail sales could grow as much as 8.2% this year. Retail sales are estimated to grow between 6.5% and 8.2% to more than $4.33 trillion in 2021, as more individuals are vaccinated and the economy reopens, according to a forecast released by the National Retail Federation. “As vaccine distribution expands, we are hopeful that increasing consumer confidence will encourage shoppers to return to in-store shopping at their favorite local retailers throughout 2021 and beyond,” Florida Retail Federation President and CEO Scott Shalley said. But don’t expect in-store sales growth to outpace online shopping just yet. Online sales are expected to grow 18% to 23% in 2021, totaling between $1.14 trillion and $1.18 trillion in 2021. NRF Chief Economist

US retail sales expected to jump on vaccine rollout, pent-up demand in positive sign for economy

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