It may be off to a slow start, but this year’s holiday shopping season could be the biggest ever for US retailers.
Deutsche Bank economist Torsten Slok released new analysis Monday morning as part of a research note that suggests 2014 is on par to be the largest year ever.
Slok used recent hiring data to arrive at his findings; stores will hire more employees in October in anticipation for the holidays, and those figures are generally a good indication of what merchants expect for their last-quarter sales.
The hiring numbers were compiled from eight separate retail markets, including clothing, electronics, and non-store retailers like online shopping.
The data suggests a promising outlook for 2014 holiday spending with October job growth hitting a new record – surpassing the previous record set in 1997.
Slok released his predictions as “Black Thursday,” when stores boast massive promotions on Thanksgiving Day, becomes more popular among consumers – especially those aged 18-34, recent studies show.
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