4 ways this year's holiday shopping may be affected by the pandemic, according to a retail economist

Reuters

• As the holiday season slowly approaches, it's difficult to say for sure how the COVID-19 pandemic will affect shopping.
• Jack Kleinhenz, chief economist for trade group the National Retail Federation, estimates that four main trends will emerge in the retail industry this fall and winter.
• He says some consumers may not have generous shopping budgets this year, as many are struggling with unemployment and other financial burdens.
• Kleinhenz also says brick and mortar stores will likely need to hire more staff to accommodate curbside pickup and delivery requests, and may offer more products catered to the 'stay-at-home' lifestyle. 
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While Black Friday is still months away, a few predictions are safe to make now. Chief among them: For many households, consumers will be spending for the holidays no matter what.

"There's always room somehow to find [the budget] for either Christmas or Hanukkah or for the holidays. But it will be a challenging one," said Jack Kleinhenz, chief economist for the National Retail Federation, a trade group.

See the rest of the story at Business Insider

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