Do you think Former President Obama is going to try and steal the credit for this as well? Wouldn't put it past him.
The Daily Wire Reports:
The stock market may be working through one of its most volatile periods in recent history, but Americans are confident in their financial situations, The Wall Street Journal reports. The 2018 holiday season was one of the most profitable for retailers in nearly a decade.
"Total U.S. retail sales, excluding automobiles, rose 5.1% between Nov. 1 and Dec. 24 from a year earlier, according to Mastercard SpendingPulse, which tracks both online and in-store spending with all forms of payment," WSJ says. "Overall, U.S. consumers spent over $850 billion this holiday season, according to Mastercard."
More consumers shopped online than ever before — and that's part of the reason stores did so well. Online spending jumped more than 25%, spurred on by new offers from retailers that allowed customers to skip crowds at the mall by buying their presents online and picking them up at designated kiosks inside stores like Wal-Mart, Target, and Macy's.
It also helped that retailers like Amazon were able to sell their wares up until the holiday. New shipping policies got packages to consumers faster, and in some cases Amazon even offered free same-day delivery on Christmas Eve.
Other retailers — specifically clothing retailers — are learning from their mistakes, CNBC reports, and delivering more of what customers want, faster.
"Clothing retailers like Lululemon, Abercrombie & Fitch and Old Navy had already kicked off the holiday shopping season on a high note, seeing strong sales during Black Friday weekend. Analysts say companies that sell apparel have done a better job in 2018 managing inventory and keeping product assortments fresh," the financial watchdog reported.
Apparel spending is taken as good overall economic news, according to Business Insider.
"Strong apparel spending signifies that consumers have confidence in the economy and are prepared to spend money on more frivolous purchases. In times of uncertainty, these are usually items that consumers first cut back on," BI reports.
Source: Mastercard / Daily Wire / HTR Media