US Retail Holiday Sales Jump 4.9%, Biggest Increase Since 2011
It was a very merry holiday season for retailers. USA Today reports holiday retail sales are up 4.9 percent compared to last year, giving retailers their best holiday season since 2011. Holiday e-commerce sales increased 18.1 percent year-over-year, while overall consumer buying during the holiday period set a record for dollars spent, according to a sales report issued by Mastercard SpendingPulse.
"Overall, this year was a big win for retail," Sarah Quinlan, senior vice president of market insights, Mastercard, said in a statement issued with the report. "The strong U.S. economy was a contributing factor, but we also have to recognize that retailers that tried new strategies to engage holiday shoppers were the beneficiaries of this sales increase."
Total Retail’s Take: Despite thousands of stores closings earlier in the year, the retail industry closed 2017 on a positive note. The sales increase aligns with new signs of consumer confidence. According to the report, procrastinators are to thank for the extra bump in sales. This year’s spending lasted late into the holiday season, making last Saturday (Super Saturday) second only to Black Friday in terms of single-day spending. Some much needed good news for retailers to build upon as we head into 2018.