Holiday Retail Forecasts: Weak Spending Predictions and Strategies to Encourage Consumer Purchases

Despite concerns about the economy and low consumer sentiment, Americans are expected to spend generously during the holiday season. The University of Michigan's sentiment index remains below pre-pandemic levels, and economists have predicted a 48% chance of a recession within the next year. However, forecasts have been slightly less pessimistic recently, indicating that American shoppers still have significant purchasing power.