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Mar 21, 2024

NRF forecasts 2024 US retail sales to grow up to 3.5 percent

The National Retail Federation forecasts that US retail sales will increase in 2024 between 2.5 percent and 3.5 percent to between $5.23 trillion and $5.28 trillion.


The 2024 sales forecast compares with 3.6 percent annual sales growth of $5.1 trillion in 2023 and is in line with the 10-year pre-pandemic average annual sales growth of 3.6 percent.


Non-store and online sales, which are included in the total figure, are expected to grow between seven percent and nine percent year over year to a range of $1.47 trillion to $1.50 trillion. That compares with non-store and online sales of $1.38 trillion in 2023.

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