Holiday sales (2017) have surpassed what was predicted by the National Retail Federation, the world’s biggest retail trade association headquartered in the United States.
During the holiday season (November-December), the American retailers reported a 5.5 per cent increase in sales to US $ 691.9 billion as compared to the same period last year. Earlier, NRF projected a 3.6-4 per cent retail sales growth before the holidays kicked-off.
Growing wages, stronger employment and higher confidence made consumers to shop more than what was anticipated, a report by NRF underlines.
December 2017 alone recorded a 0.4 per cent surge in sales on the seasonally adjusted basis over November 2017 and up 4.6 per cent on the unadjusted year-over-year basis.
NRF President and CEO Matthew Shay averred that the retail is a very agile sector which is able to transform and reinvent itself to fulfil rapid changing in customer’s needs and this is what the industry observed during the holidays this time around.
Shay also added that the scenario in the retail industry would not continue to be the same in the time to come. But, whatever the situation may be it would always be ready to serve customers.
Earlier, a report by Mastercard SpendingPulse revealed that the retailers in the US reported best-ever sales during the 2017 holiday season since 2011. During the review period, they reported a 4.9 per cent increase in retail sales compared to 2010 holiday season sale.
Mastercard SpendingPulse is known for providing near real-time transaction data and proprietary analysis, data-driven consulting and marketing services solutions.
Click the ‘brand name’ to read detailed reports on various fashion retailers such as M&S, Nordstrom, New York & Company, Debenhams, Macy’s, NEXT and JCPenney.
