Holiday Shopping Season Sees Mixed Trends

As the holiday shopping season progresses, consumer spending shows signs of caution, with retail sales rising by 0.7% in November, largely driven by auto sales. Although online shopping is also performing well, spending in categories such as groceries and department stores has declined, reflecting a shift toward price-consciousness among consumers. In Denver, holiday spending is expected to decrease by 6% compared to last year, with many opting for experiences over gifts. Small retailers report mixed results, with some experiencing good sales on cozy items, though overall spending remains restrained compared to previous years. The National Retail Federation predicts a modest increase in retail sales of 2.5% to 3.5% during the holiday season, with online sales projected to rise by 8.4%. Retailers are adapting to changing consumer preferences, with many shoppers seeking affordable options and whimsical, colorful items amid ongoing economic pressures.