U.S. Consumer Confidence Slips as Virus Surges Into Holidays

Retailers were optimistic about holiday sales after a drop in COVID cases, expecting pent-up demand. However, a COVID rebound has led to uncertainty, with analysts unsure about the season's outcome. The National Retail Federation predicts a wide range of sales growth, while independent analysts are more pessimistic. Consumer confidence has declined, with buying plans for big-ticket items down. Online shopping is expected to dominate over in-store purchases.

What was the initial expectation of retailers for the holiday season after the summer?

• A decrease in sales due to ongoing COVID concerns

• An increase in sales due to pent-up demand

• A shift towards more in-store purchases

• Stable sales similar to the previous year

How does the National Retail Federation's forecast for holiday sales compare to independent analysts?

• Both are equally optimistic

• The National Retail Federation is more optimistic

• Both predict a decline in sales

• Independent analysts are more optimistic

What is the expected range of holiday sales growth according to the National Retail Federation?

• Between 1% and 2%

• Between 3.6% and 5.2%

• Between 4% and 6%

• Between 2% and 3.5%

What trend is expected in consumer buying behavior during the holiday season?

• A decline in consumer confidence and buying plans

• An increase in buying plans for cars and appliances

• A stable level of consumer confidence

• A shift towards more in-store purchases

Which type of sales is expected to dominate during the holiday season?

• Online sales

• In-store sales

• Sales through phone orders

• Sales through catalogs