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Democrats hatin' life! At last, retailers see a big boost in sales this holiday season
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Jack Fake
Dec 27, 2017, 7:16:54 PM12/27/17
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Thanks to President Trump.
That jingle-jangle sound that you've been hearing isn't just
sleigh bells. Rather, it's the sound of cash dropping into the
pockets of retailers at faster pace this holiday season than at
any time in the past four years, according to a new report.
Retail spending rose 6.6%, between Oct. 28 and Monday compared
to the same period last year, according to a new report by the
credit card processing company First Data. The firm also found
that retail online sales continued to outpace those at
traditional stores – 11% versus 5.4%.
Overall spending on everything except gasoline was up 9.2%,
First Data said. For both overall and retail spending, 2017's
were the highest in four years.
Retailers are feeling holiday joy.
"People are spending money more freely than in the last few
years," said Sam Pollard, co-owner of Mud Puddle Toys in
Marblehead, Mass.. "We’ve been pleased with the season overall."
Last holiday season, the average tab was $70; this year, it's
$75, Pollard added.
First Data points to high consumer confidence, low unemployment
and relatively favorable weather as the reasons for this jump.
The report shows:
•Winners. In retail spending growth, the biggest winner was the
electronics and appliances category, which jumped 11.8%.
•Losers. When it came to non-electronic entertainment, whether
it as sporting goods, hobbies, books or music, they were
collectively down 0.7%.
•Hot regions. The Southwest and West were the regions that saw
the most growth, while the Mid-Atlantic area had the least.
The big city with the biggest spend was Houston, which is
recovering from Hurricane Harvey; Houston saw retail growth of
21.9% with the biggest bumps in building materials, up 45%, and
furniture, up 34%.
More: U.S. consumer spending rises 0.6% in November
More: Christmas is coming and many gift buyers aren't ready
More: Kohl's, Toys R Us to stay open around the clock until
Christmas
Consumer spending jumped $87.1 billion or 0.6% in November,
according to U.S. Department of Commerce data released Friday.
For Amy Routson, her Christmas budget was about the same as last
year -- $1,000 for the 15 people on her list. Where the 46-year-
old Mechanicsburg, Pa., resident did spend more was on herself,
because she confessed she has a bad habit of buying items
duplicates.
This year's treats include a couple pairs of shoes, a blanket
and a slim-design travel water bottle. Routson's 2017 self-
splurge was $200 higher than last year's.
"A lot of people I know are feeling better this year and they're
doing more Christmas shopping. People are feeling more secure
about where the economy is headed," she said.
Follow USA TODAY reporter Zlati Meyer on Twitter: @ZlatiMeyer
https://www.usatoday.com/story/money/2017/12/22/last-retailers-
see-big-boost-sales-holiday-season/976599001/
That jingle-jangle sound that you've been hearing isn't just
sleigh bells. Rather, it's the sound of cash dropping into the
pockets of retailers at faster pace this holiday season than at
any time in the past four years, according to a new report.
Retail spending rose 6.6%, between Oct. 28 and Monday compared
to the same period last year, according to a new report by the
credit card processing company First Data. The firm also found
that retail online sales continued to outpace those at
traditional stores – 11% versus 5.4%.
Overall spending on everything except gasoline was up 9.2%,
First Data said. For both overall and retail spending, 2017's
were the highest in four years.
Retailers are feeling holiday joy.
"People are spending money more freely than in the last few
years," said Sam Pollard, co-owner of Mud Puddle Toys in
Marblehead, Mass.. "We’ve been pleased with the season overall."
Last holiday season, the average tab was $70; this year, it's
$75, Pollard added.
First Data points to high consumer confidence, low unemployment
and relatively favorable weather as the reasons for this jump.
The report shows:
•Winners. In retail spending growth, the biggest winner was the
electronics and appliances category, which jumped 11.8%.
•Losers. When it came to non-electronic entertainment, whether
it as sporting goods, hobbies, books or music, they were
collectively down 0.7%.
•Hot regions. The Southwest and West were the regions that saw
the most growth, while the Mid-Atlantic area had the least.
The big city with the biggest spend was Houston, which is
recovering from Hurricane Harvey; Houston saw retail growth of
21.9% with the biggest bumps in building materials, up 45%, and
furniture, up 34%.
More: U.S. consumer spending rises 0.6% in November
More: Christmas is coming and many gift buyers aren't ready
More: Kohl's, Toys R Us to stay open around the clock until
Christmas
Consumer spending jumped $87.1 billion or 0.6% in November,
according to U.S. Department of Commerce data released Friday.
For Amy Routson, her Christmas budget was about the same as last
year -- $1,000 for the 15 people on her list. Where the 46-year-
old Mechanicsburg, Pa., resident did spend more was on herself,
because she confessed she has a bad habit of buying items
duplicates.
This year's treats include a couple pairs of shoes, a blanket
and a slim-design travel water bottle. Routson's 2017 self-
splurge was $200 higher than last year's.
"A lot of people I know are feeling better this year and they're
doing more Christmas shopping. People are feeling more secure
about where the economy is headed," she said.
Follow USA TODAY reporter Zlati Meyer on Twitter: @ZlatiMeyer
https://www.usatoday.com/story/money/2017/12/22/last-retailers-
see-big-boost-sales-holiday-season/976599001/
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