Despite Nevada’s nation-leading foreclosure and bankruptcy rates, the state anticipates a 6.4% bump in holiday spending. “This projection of increased spending mirrors the growth seen in retail-specific sales during the first eight months of the year,” said Jeremy Aguero of Applied Analysis. “For several years, Nevada’s spending trailed national spending. This year, we believe that gap is beginning to close.”Consumers are expected to spend $712 on Christmas gifts this year. If Nevada keep pace with this estimate, adult shoppers would spend about $1.4 billion during the upcoming holiday season. “We believe that consumer spending may be in a healthier place than it was last year,” Retail Association of Nevada President Mary Lau said. “This engine is picking up steam, which bodes well for a more robust holiday shopping season than we have had for a few years.”
