Holiday Sales Uptick
POSTED: Tuesday, December 29, 2009 - 11:38am
UPDATED: Wednesday, February 17, 2010 - 2:25pm
Holiday shoppers spent more this year vs. 2008...
It was a merry Christmas for retailers after all.
After a slow start it seems the holiday shopping season ended with a flurry.
A late boost from procrastinators, and an extra day of shopping between Black Friday and Christmas, meant retail sales were up 3.6 percent over last year.
That according to MasterCard's Spending Pulse report.
The country was really in a free fall state in terms of spending a year ago. This year the word is really more about stabilization. People have been very deliberate in their spending," says Michael McNamara of MasterCard Advisors.
What were consumers looking for?
Tv sales were anything but flat this year.
"The flat panel tv sets were by far the home run," says Britt Beemer of America's Research Group.
And computers were also key to an increase in online shopping.
The blizzard on the east coast kept many shoppers inside, boosting online sales by 18 percent this year.
For the brick and mortar stores it seems the big discounters saw the biggest bump.
And all are now hoping the trend continues, as they start the big price cuts we didn't see much of before the holiday.