UK retail sales volumes increased by 3.9% year-on-year as of September 2024, marking the largest annual rise since February 2022, with online sales contributing significantly to this growth. In the U.S., retail sales rose 0.4% in September, suggesting strong consumer demand despite high prices and a dip in consumer confidence, with forecasts for 2024 economic growth being upgraded. The National Retail Federation projects U.S. holiday sales to grow between 3% and 3.5%, the slowest rate in six years, as consumers become more price-sensitive. Both the ICSC and NRF predict rising holiday spending, but with consumers expected to focus on essentials and discounts. Online sales are anticipated to expand significantly, driven by changing shopping behaviors. Overall, economic indicators suggest resilience in consumer spending, albeit with caution due to inflation and geopolitical concerns.