Presidential Election Should Not Have Negative Impact On Holiday Sales, Says Deloitte

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.