196.7 million people visited brick-and-mortar stores over the weekend, a jump of 17% from 2021. Shoppers spent an average of about $325 on holiday-related purchases. The National Retail Federation says sales for the overall holiday shopping season are on track to meet its forecast. It anticipates that holiday sales will rise by 6% to 8% from last year to between $942.6 billion and $960.4 billion. Some of that increase will come from nearly four-decade high inflation. Retailers have been cautious about their holiday outlooks, particularly as families feel the pinch of inflation. Walmart has spoken about customers skipping over discretionary items and trading down to cheaper proteins like hot dogs and peanut butter. . . .
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