Thu Sep 12 04:08:56 UTC 2024: ## Apple Stock Unfazed by iPhone 16 News, Holiday Sales Expected to Slow Down

**New York, NY** – Despite the upcoming release of the highly anticipated iPhone 16, Apple stock remains relatively stable. This lack of significant movement can be attributed to broader economic concerns overshadowing the tech giant’s latest offering.

Meanwhile, retailers are bracing for a slower holiday season this year, with projected sales growth at its lowest in six years. Deloitte’s latest report attributes this slowdown to persistent inflation and dwindling consumer savings, forcing shoppers to adopt a more frugal approach.

While overall holiday sales are expected to rise between 2.3% and 3.3%, this represents a significant decrease from last year’s 4.3% growth. Deloitte predicts e-commerce sales will continue to perform well, growing by 7%-9%, while in-store sales are expected to rise by a modest 1.3% to 2.1%.

“Rising credit card debt and the possibility that many consumers have exhausted their pandemic-era savings will likely weigh on sales growth this season compared to the previous one,” commented Michael Jeschke, leader of Deloitte Consulting’s Retail & Consumer Products.

Despite these challenges, the report highlights that consumers are still expected to embrace online deals to maximize their spending, suggesting a continued preference for e-commerce platforms.

This news comes as retailers are forced to implement earlier promotional discounts due to a shorter holiday season, with only 27 days between Thanksgiving and Christmas this year. Consumers across all income brackets have been impacted by lower personal savings, leading to an anticipated surge in bargain hunting.

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