FOR IMMEDIATE RELEASE
FEBRUARY 24, 2021
The Latest Forecast Reveals That As Vaccine Distribution Expands, Retail Sales Expected to Grow Between 6.5 to 8.2 Percent
Tallahassee, FL – The Florida Retail Federation (FRF) announced today that 2021 will be a major year of growth for the retail industry. According to a forecast released by the National Retail Federation, retail sales are anticipated to grow between 6.5 percent and 8.2 percent this year.
As access to the vaccine increases, there is an expected uptick in in-store shopping. The retail sales growth in 2021 is expected to reach between $4.33 trillion and $4.4 trillion. These projections show the COVID-19 vaccine is creating comfort and confidence for Florida's shoppers.
“In 2020, we experienced an economic disruption unlike any other,” said Scott Shalley, president and CEO of the FRF. “For the first time retailers across the nation were forced to halt their businesses and many experienced months-long closures due to the COVID-19 pandemic. Our Florida retailers have been working hard over the past year to protect the health of shoppers and employees while reopening. We continually strive to create a comfortable and safe shopping experience. As vaccine distribution expands, we are hopeful that increasing consumer confidence will encourage shoppers to return to in-store shopping at their favorite local retailers throughout 2021 and beyond."
The 2021 retail sales forecast total also includes online sales growth. As new vaccine rollouts continue across Florida, online retail purchases will remain a major form of shopping for consumers. Online sales are expected to grow between 18 and 23 percent in 2021, totaling between $1.14 trillion and $1.18 trillion in 2021.
Florida retailers remain committed to offering shoppers a variety of safe and convenient methods to fulfill their needs.
- Visit: Visit your local retailer to shop in-store.
- Buy Online: Find your favorite Florida retailer online to select what you need for pickup in-store.
- Curbside or Delivery: Call your local retailer to place an order for curbside pick-up or delivery, where available.
As many local retailers continue to reopen and overcome the disruption and hardships faced by the COVID-19 pandemic, the FRF would like to remind shoppers to "Find It In Florida." When Floridians shop local retailers, they help boost the local economy and support community businesses. Learn more about the "Find It In Florida" program at the website.
For more information on the 2021 Retail Sales Forecast of the National Retail Federation, visit: https://nrf.com/media-center/press-releases/nrf-forecasts-retail-sales-exceed-433t-2021-vaccine-rollout-expands
ABOUT THE FLORIDA RETAIL FEDERATION
The Florida Retail Federation is the statewide trade association representing retailers -- the businesses that sell directly to consumers. Florida retailers provide one out of every five jobs in the state, pay more than $49 billion in wages annually, and collect and remit more than $20 billion in sales taxes for Florida’s government each year.
ABOUT THE NATIONAL RETAIL FEDERATION
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private-sector employer, supporting one in four U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.