Holiday retail sales exceed forecasts!
Shoppers closed the 2010 holiday season on a positive note for retailers. MasterCard Advisors’ SpendingPulse 2010 Holiday Wrap-up Report summarized the success as a season-over-season growth of 5.5%, exceeding even the retail industry’s forecasts. The report measures a 50-day period – November 5 through December 24 - tracking national retail and services sales by all forms of payment. “If last year’s holiday story was about gaining some stability, this year’s is about getting back to growth,” said Michael McNamara, Vice President of Research and Analysis for SpendingPulse.
SpendingPulse highlights include:
The International Council of Shopping Centers stated that the week ending on December 25 rose by 1.0% from the prior week. Compared with the same week of the prior year, chain-store rose by a very robust 4.8%, the strongest pace since April 24, 2010. Numbers were based on ICSC-Goldman Sachs Weekly Chain Store Sales index.
The seasons’ sales increase is the best performance in five years. With the rising confidence of consumers over the past 5 to 6 months, hopefully retailers can look forward to an optimistic start for 2011!