The November presidential election may be on the minds of consumers this holiday shopping season, but it won't have a negative impact on retail sales, Deloitte said in a Wednesday note. "While attention toward presidential elections may be a temporary distraction in the early part of the holiday shopping season, it should not have a negative impact on sales, and retailers may benefit from a pickup in postelection consumer spending," said Daniel Bachman, Deloitte's senior U.S. economist, in a statement. Deloitte projects a 3.6% to 4% rise in holiday retail sales this year, excluding vehicles and gasoline. E-commerce sales are forecast to increase 17% to 19% to reach $96 billion to $98 billion.
Continue Reading Below
Copyright © 2016 MarketWatch, Inc.