(NEWSnet) — The holiday season is still a few months away, and that is right around the corner for retailers.

Retailers will need to forecast market demand and just how much people are willing to spend this year.

Plus, America’s retail giants will be on the hunt for seasonal help.

Coresight Research doesn’t think this season will be a big one. The retail analytics firm cited heightened interest rates and high cumulative credit card debt as reasons consumers might not spend as much on hot ticket items—the firm forecasts single-digit growth.

Practical Ecommerce forecasts that shopping will only grow by 5%t over the last year.

You're not alone if you want to make holiday purchases much earlier than usual. Buying now and paying later online purchases are increasingly popular too, which represent 9% of all purchases.

That is up 2% from this time last year despite inflation stabilization.

This as it is only expected to get tighter on Americans.

Last week, Federal Reserve Governor Michelle Bowman said multiple rate hikes are still needed. Heightened interest rates drive down inflation, but that also puts pressure on you and your credit card.

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