The art and science of holiday sales predictions

09/19/2013 | ABC News

The business of holiday sales predictions has become a crowded industry, and retailers take forecasts seriously and use them when planning inventory levels, staffing and seasonal hiring, according to NRF Chief Economist Jack Kleinhenz. His forecast, due out early next month, uses a slew of macro data including monthly census retail sales reports, employment data, income data, credit card use, food and beverage retail sales and an e-commerce estimate.

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