U.S. holiday retail sales are forecast to increase 4.0% to 4.8% between November 2026 and January 2027, reaching $1.70 trillion to $1.71 trillion, Deloitte said. That compares with 4.1% growth and $1.63 trillion in the same period a year earlier, based on seasonally adjusted sales excluding automotive and gasoline. Disposable personal income is projected to rise 4.5% to 5.2%, which Deloitte considers an important indicator for retail and e-commerce demand. E-commerce sales are expected to grow 7.5% to 8.4%, reaching $316.1 billion to $318.9 billion, compared with an estimated $294 billion a year earlier. Deloitte said digital tools for researching, comparing and completing purchases will continue supporting online sales. Consumers across income levels are expected to seek value by using promotions, switching brands and retailers, and comparing prices while continuing to spend selectively on holiday purchases.