NEW YORK—Our minds might be on Thanksgiving right now, but the winter holidays are right around the corner—and the retail industry needs to be ready. At the end of October, the National Retail Federation (NRF) shared its outlook for the 2024 holiday spending season, reporting that consumer spending is expected to reach a new record of $902 per person on average across gifts, food, decorations and other seasonal purchases. The NRF said this figure is about $25 per person more than last year’s, and $16 per person higher than the previous record, which was set in 2019. Read More