United States holiday sales set to break records in surprise boon to retail
28 December, 2017, 01:48 | Author: Kathy Ellis
The SpendingPulse report details holiday shopping from November 1 through December 24 and covers retail sales across all payment types, including cash and check.
Specialty apparel and department stores, which both traditionally see the bulk of sales happen in-store, saw only "moderate" gains.
Mastercard Inc said on Tuesday that a late-season rally had driven an 18.1% rise in online sales.
For retailers, the shopping season isn't over.
This was a winning holiday season for retail overall, though the story was different category by category. About 14 percent said they'd be getting a head start on the 2018 holiday season, and the remaining 38 percent just wanted to take advantage of post-holiday sales.
Shoppers were willing to open their wallets to spend on items for their homes, Quinlan said: Electronics and appliance sales were up 7.5 percent compared with the 2016 holiday season, and home furniture and furnishings sales grew 5.1 percent.
The Solactive-ProShares Bricks and Mortar Retail Store Index is composed of U.S.companies that account for 75% or more of retail revenue from in-store sales, including Macy's; Costco; Best Buy; Home Depot; Tiffany; Target; Dollar General; Barnes & Noble; The Gap; Sears; Nordstrom; AutoZone; and JC Penney.
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Shastri added that the tours of South Africa, England and Australia in 2018 will help improve the current Kohli-led outfit. The weather conditions there are also different as compared to the sub-continent.
Retailers' heavy early-season promotions paid off, with the first three weeks of November seeing significant jumps.
"Overall, this year was a big win for retail", Sarah Quinlan, senior vice president of Market Insights, Mastercard, said in a statement.
With more money in their pockets at the end of the holiday season, shoppers made November 24, known as "Black Friday", and "Super Saturday" December 23 the biggest single days of spending, according to Mastercard.
Although Quinlan admitted that the strong US economy was a contributing factor, an upgraded customer experience also helped.
Mastercard, which tracks spending by combining sales activity in its payments network with estimates of cash and other payment forms, excluded automobile sales from its figures.
Americans go to retail stores each year to acquire holiday gifts.
The SpendingPulse reports on national US retail sales across all payments types.
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Marquise Byrd, 22, died of his injuries Friday, days after the December 19 incident on Interstate 75 in Toledo. Byrd, who sustained a serious head injury, was treated at the scene and transported to a local hospital.
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