“Holiday spending accounts for about $600 billion a year, or nearly a fifth of retailers’ $3.2 trillion in annual sales, according to the National Retail Federation,” Brett Arends reports for MarketWatch.
“The NRF is predicting a significant jump in holiday spending. It reckons sales will be up 4.1% this year, the strongest growth since 2011 and way above the average this millennium,” Arends reports. “But is there a Grinch lurking in the hills high above Whoville? There may be: A Grinch in the shape of a giant iPhone.”
“That, at least, is according to some new research by analysts at Canaccord Genuity,” Arends reports. “Their take: Spending on new iPhone 6 and iPhone 6 Plus phones from Apple is going to vacuum up so much of consumers’ money that the rest of the retailers may be in for a much tougher time than they realize.”
Read more in the full article here.