CHICAGO--(BUSINESS WIRE)--In the November issue of Themes on the Economy®, Mesirow Financial Chief Economist Diane Swonk offers details from her annual holiday retail outlook. She says consumers have more money in their pockets to spend because of an improving labor market and falling gas prices. “We expect total retail sales to rise 4.6% from a year ago; that represents a sharp acceleration from the weather-suppressed 3.7% gains of 2013… Online spending is driving those gains with an annual increase of more than 9.0%.”
While consumers may relax over a rosier holiday outlook, retailers are just managing to hold onto profits with razor-thin margins. Swonk predicts that “discounts and promotions will continue to determine where and when most consumers shop. A record number of stores are expected to be open on Thanksgiving Day for those seeking a deal instead of a meal.”
Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, it is an independent, employee-owned firm with approximately 1,200 employees globally. With expertise in Investment Management, Global Markets, Insurance Services and Consulting, Mesirow Financial strives to meet the financial needs of institutions, public sector entities, corporations and individuals. For more information, visit mesirowfinancial.com.