Retailers in the US have 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. This has been revealed by Mastercard SpendingPulse, known for providing near real-time transaction data and proprietary analysis, data-driven consulting and marketing services solutions.
The report further stated that shoppers tend to indulge more at these retailers in-store but the spate of store closures throughout 2017 made that more difficult. The jump in sales was reported at the time when many retailers decided to shutter their brick and mortar stores in view of the rising competition from online stores.
Consumer’s inclination towards e-shopping helped the e-commerce industry to increase by 18.1 per cent (in terms of sales), added the Mastercard SpendingPulse report. Sarah Quinlan, Senior Vice President of Market Insights of Mastercard, said that the strong US economy contributed majorly to yielding a big win for retailers on this holiday sale. She also felt that retailers who tried new strategies to engage holiday shoppers reaped major benefits this season.
Despite taking the brunt of closings in the past year, even speciality apparel and department stores experienced moderate sales gains. Earlier, it was predicted that the US retail sales would benefit from the holiday season and end 2017 on a higher note. November 1 to December 24 period proved a favourable time for retailers, the report mentioned.
Clothing and department stores also saw moderate gains.
National Retail Federation (NRF), the world’s biggest retail trade association, also reported that November 2017 recorded a 0.9 per cent rise on a seasonally adjusted basis, while it grew by 6 per cent on year-on-year (Y-o-Y) unadjusted basis.
