Per the National Retail Federation, Americans are expected to spend a record $6.9 billion on St. Patrick's Day this year, up $1 billion from the last year.
The retail sector, which was on a roll ahead of the Q4 earnings, seems having trouble finding their footing due to rounds of weak earnings report from number of large retailers.
Retail sales in the United States fell 1.1% sequentially in December 2022. Year-over-year, retail sales grew 9.2%.
Wall Street has been showing immense strength to start 2023. These sectors and their ETFs have returned double-digit returns to start 2023.
Online holiday sales hit a record high buoyed by heavy discounts, which persuaded shoppers to spend on everything from toys to electronics amid the rising inflation environment.
Online retail ETFs have gained price momentum at the start of 2023.
The 2022 holiday shopping season has been solid for retailers as consumers have taken advantage of heavily discounted merchandise amid an overall slowdown in the retail sector over the past few months....
The National Retail Federation expects holiday sales to grow 6-8% in November and December to $942.6-$960.4 billion.
Cyber Monday expected to top Black Friday online sales with $11.2 billion, up 5.1% from last year.
While shoppers are grabbing the Black Friday deals, retailers are preparing for Cyber Monday -- the next big shopping event.