Hardware Retailing The Industry's Source for Insights and Information
American consumers were out in droves over the holiday shopping season, providing the strongest growth in the last six years, according to CNN Business.
In fact, retail spending from Nov. 1 through Dec. 24 increased 5.1 percent from a year ago to more than $850 billion, according to Mastercard SpendingPulse™, which provides insights into overall retail spending trends across all payment types.
“From shopping aisles to online carts, consumer confidence translated into holiday cheer for retail,” says Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks Inc. “By combining the right inventory with the right mix of online versus in-store, many retailers were able to give consumers what they wanted via the right shopping channels.”
Home improvement spending was up 9 percent during the holiday season, according to Mastercard SpendingPulse.
Read this Hardware Retailing article from Dec. 3 to learn about the beginning of the holiday shopping period.
