- Tags : Holiday Spending
By: ProcurementIQ Analyst, Michelle Hovanetz
In 2017, holiday sales are expected to reach between $678.8 billion and $682 billion, according to the National Retail Federation, which is up from $655.8 billion in 2016. While retailers and consumers prepare for a busy holiday season, businesses of all types are also gearing up for an eventful year-end. Holiday parties, increased advertising expenditure, temporary staffing shortages, financial reporting and tax preparation often monopolize fourth quarter planning and spending. Surges in demand for these highly seasonal services can lead to higher prices and longer lead times for buyers. ProcurementIQ has analyzed some common end-of-year purchases, including party and event planning, advertising, temporary staffing and accounting services, to help businesses make the most of their seasonal spending.