The National Retail Federation (NRF) forecasts that 2022 holiday retail sales will grow between 6% and 8% over last year, and could reach $960 billion. According to Adobe, U.S. shoppers spent $35.27 billion online overall during Cyber Week, the period from Thanksgiving through Cyber Monday. That’s a 4% gain over last year at a time when U.S. inflation is running more than 7%. Meanwhile, more than 122.7 million people visited brick-and-mortar stores over the Black Friday weekend, up 17% from 2021.
While some may argue this year’s solid sales gains are the direct result of pent-up demand, there is another force supporting holiday sales this year – innovative payment platforms and services. Orion’s Financial Services Leader, Anoop Gala shares his perspective on how frictionless payment platforms are driving strong holiday sales.
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