With Thanksgiving rapidly approaching, holiday retail sales for 2011 are expected to increase 2.8% to $465.6 billion, according to the National Retail Federation. While that growth is far lower than the 5.2% increase retailers experienced last year, it is slightly higher than the ten-year average holiday sales increase of 2.6%.
Honey plays an important role during the holidays as an ingredient in many gourmet snack and candy products. In addition, it’s used in a vast array of recipes and baked goods that are traditionally associated with Thanksgiving.
“Retailers are optimistic that a combination of strong promotions and lean inventory levels will help them address consumer caution this holiday season,” said NRF President and CEO Matthew Shay. “While businesses remain concerned over the viability of the economic recovery, there is no doubt that the retail industry is in a better position this year to handle consumer uncertainty than it was in 2008 and 2009.”
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