Holiday sales rose at the fastest pace in 17 years, even as shoppers grappled with higher prices, product shortages and a raging new Covid-19 variant in the last few weeks of the season, according to one spending measure.
By category, clothing rose 47 percent, jewelry 32 percent, electronics 16 percent. Online sales were up 11 percent from a year ago and 61 percent from 2019. Department stores registered a 21 percent increase over 2020.After omicron hit, some consumers stayed home and shifted their spending to e-commerce — but sales stayed strong. “I feel really good about how the season played out,’’ said Steve Sadove, senior adviser to Mastercard and former CEO of Saks.
Overall, analysts had expected a strong holiday season, fueled by early shopping that started back in October in anticipation of a product shortage. Consumers were also determined to celebrate the holidays after a muted one a year ago. Still, November saw a slowdown in retail sales, in part because of the early shopping.
The update from the NRF was delivered in early December, right before omicron became a bigger threat in the U.S. and started to disrupt businesses from Broadway theaters to restaurants. But overall store traffic hasn't taken a plunge, though some stores are reporting dips in big city locations. For the week that ended Dec.
Despite Republicans best efforts to sabotage the economy.
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Looks like the fear mongering and lies from the right really didn’t work! But it never does!
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GOP fastest pace in 17 YEARS! Haha!
If sales are so much higher, then shoppers apparently aren't 'grappling' with higher prices or product shortages. Perhaps they are able to afford and find what they want. What is this need to frame even positive news as a negative?
Big dawg Biden!
So the panic was manufactured?
I know a few media outlets who will not mention this at all.
at&t neglected and exploited me, this year. I hope they give me a refund on my phone, in 2022.
No doubt this is all Biden's fault:)
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