Holiday Retail Reports Reflect High Online Shopping Sales
December 29, 2009 - Retail sales have risen an estimated 3.6%, a result attributed to several shoppers taking to the streets in search of gifts this holiday season.
Yesterday, *MasterCard Advisors' SpendingPulse released their 2009 holiday spending report, covering consumer spending from November 1 until December 24.
Online sales were the biggest hitter this season, with a 15.5% surge. Accounting for nearly 5% of all retail sales, these recent figures reveal that consumers are becoming more at ease with online shopping.
After slipping in 2008, luxury sales saw a modest increase of 0.8%, while jewelry sales for the months of November and December rose a more generous 5.6%.
In future weeks, several people are expected to take advantage of the post-holiday discounts, which could leave retail sales high into January.
*Excluding both gasoline and automotive sales, SpendingPulse is an economic report that tracks national retail and service sales. The report takes into account all payment forms, including both cash and check.