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December 28, 2017

holiday season sales witness biggest jump since 2011

"US Holiday season saw a 5% jump ,biggest since 2011"

Holiday Spending across Retail stores in US sees biggest jump in 6 years


 
Despite thousands of store closings this year, Americans supplied a final flurry of spending to give retailers their best holiday season sales since 2011, figures released Tuesday show. U.S. year-end holiday retail sales rose 4.9% compared to the same period last year, a welcome gift to U.S. retailers amid new signs of consumer confidence. Online retail shopping similarly increased 18.1%, while overall consumer buying during the holiday period set a record for dollars spent, according to the sales report issued by Mastercard SpendingPulse.

The holiday shopping season, a crucial period for retailers that can account for up to 40 percent of annual sales, brought record-breaking online and in-store spending this year of more than $800 billion, according to Mastercard Inc’s analytics arm.According to the report, last-minute shoppers were largely responsible for a 5.9 percent increase in jewelry sales. Some retail categories saw higher increases than others: There was a 7.5 percent increase in sales of electronics and appliances this holiday period, the largest jump in the past decade. Sales in the home furnishings and home improvement categories each jumped 5.1 percent. 

 There were moderate increases for specialty apparel and department stores, despite a lackluster year overall that saw thousands of brick-and-mortar store closings. However, the women’s apparel category was negative over the entire year, according to Mastercard data.The findings were based on aggregate sales activity in the Mastercard payments network, along with survey based-estimates for other forms of payment, including cash and checks, The data exclude auto sales. was no place like home for the holidays for many shoppers, who sent sales of electronics and appliances up 7.5%, the strongest growth of the last 10 year. Sales of home furniture and furnishings separately grew 5.1%.

 A host of traditional retailers and department store chains topped the table of the biggest stock market climbers on Tuesday, helping the S&P 500 retailing industry index gain 0.6 per cent and achieve a fresh record high.In another sign of the overall sector's strength, a public index launched in mid-November to track the performance of traditional U.S. retailers showed a nearly 15.7% increase in market returns as of Friday.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.


The National Retail Federation said it would not have its own data ready until mid-January — but predicted final holiday retail sales figures would meet or exceed its October forecast of an increase of 3.6 to 4 percent.United Parcel Service Inc, the world’s largest package delivery company, said on Wednesday it was on track to return a record number of packages this holiday, having handled more than 1 million returns to retailers daily in December. That pace is expected to continue into early January, UPS said, and would likely peak at 1.4 million on Jan. 3, which would be a fifth consecutive annual record, up 8 percent from this year.