"We expect healthy employment and income growth to keep the volume of sales growing for the 2023 holiday season. Inflation, which accounted for much of the increase in the value of retail sales last year, should moderate.”

Daniel Bachman, Deloitte's U.S. economic forecaster, commenting on top findings from Deloitte's annual holiday retail forecast, "Holiday Retail Sales Expected to Increase Between 3.5 Percent to 4.6 Percent," which predicts holiday sales will total $1.54 trillion to $1.56 trillion between November and January.