Holiday spending is up. Shoppers are confident, but not giddy
1 year ago

Holiday spending is up. Shoppers are confident, but not giddy

NPR  

Holiday spending is up. Shoppers are confident, but not giddy Enlarge this image toggle caption Brandon Bell/Getty Images Brandon Bell/Getty Images Retail spending in the 2023 holiday season rose just over 3% year-over-year, marking a return to pre-pandemic consumer spending trends even as credit card debt is on the rise and federal student loan payments have kicked back in. Sponsor Message In all, 2023 was a "good, solid holiday season" for shoppers, retailers and suppliers alike, especially amid the record amounts of debt and rising cost of household needs, said Burt Flickinger, managing director at the business consulting firm Strategic Resource Group. In particular, consumers spent more on apparel and food — especially in restaurants, where spending was up by 7.8% over 2022 — while sales of electronics and jewelry sagged slightly year over year. Among them is rising credit card debt, which topped $1 trillion for the first time ever earlier this year and rose by $48 billion — an increase of 4.7% — from the second to the third quarters of this year, according to the Federal Reserve Bank of New York.

Holiday Sales Spending Fed Flickinger Holiday Spending Kleinhenz  sales  past  loans  giddy  federal  holiday  rose  spending  increase  shoppers  flickinger  confident  inflation

History of this topic

Holiday shoppers increased spending by 3.8% despite higher prices
Trending News
1 week, 6 days ago

Holiday shoppers increased spending by 3.8% despite higher prices

Associated Press  

Sales rose this year during the holiday shopping season even as Americans wrestled with elevated prices for many groceries and other necessities, according to new data. Holiday sales from the beginning of November through Christmas Eve climbed 3.8%, outpacing the 3.1% increase from a year earlier, according to Mastercard SpendingPulse, which tracks all kinds of payments including cash and debit …

'Shocking development': New York Times reporter reveals what is driving huge sales numbers
1 week, 6 days ago

'Shocking development': New York Times reporter reveals what is driving huge sales numbers

Raw Story  

Consumers set a massive record in holiday sales as people finally began to feel the pressure of inflation ease, New York Times business and policy reporter Lauren Hirsch told MSNBC's Jessica Layton on Thursday. This follows a number of other reports from retailers showing healthy sales — and not just the traditionally solid online stores, they noted, but, in a …

We spent more on restaurants and clothing over the holidays, Mastercard says
2 weeks ago

We spent more on restaurants and clothing over the holidays, Mastercard says

Salon  

Retail sales over the holiday season increased 3.8% over last year as people visited restaurants and purchased clothes and jewelry, according to Mastercard SpendingPulse, which tracks payments. The NRF will release a broader picture next month of how Americans are spending, with two months of statistics from the Commerce Department that show sales in November and December. Holiday shoppers planned …

Holiday spending in the US: Celebrate the season, mind your wallet
2 weeks ago

Holiday spending in the US: Celebrate the season, mind your wallet

India Today  

For Americans, Christmas cheer comes with warm spending — whether on essential giveaways for family or in charity. Like, if it suits somebody, then I'll grab it.” A Closer Look at Holiday Gifts Popular gifts include clothing, toys, gift cards, books, video games, and personal care items. Economists note that people are now “substantially less optimistic” about future business conditions …

Last-minute Christmas shopping takes a dive as buyers feel the squeeze
Trending News
2 weeks, 1 day ago

Last-minute Christmas shopping takes a dive as buyers feel the squeeze

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Last-minute Christmas shopping saw a downturn this year as high …

Retail sales rose at healthy pace last month in latest sign of U.S. economy’s health
3 weeks, 2 days ago

Retail sales rose at healthy pace last month in latest sign of U.S. economy’s health

LA Times  

Consumers stepped up their spending at retail stores last month, providing a boost to the economy in the early phases of the winter holiday shopping season. Retail sales rose 0.7% in November, the Commerce Department said Tuesday, a solid increase and higher than October’s 0.5% gain. Analysts envisioned a solid holiday shopping season, though perhaps not as robust as last …

Retailers point to solid U.S. sales over holiday weekend
1 month ago

Retailers point to solid U.S. sales over holiday weekend

Raw Story  

U.S. consumers turned out in force in stores and online over the Thanksgiving weekend, a key stretch in the holiday shopping season, a leading retailer group said Tuesday. A total of 197 million shoppers, about 59 percent of the U.S. population, made purchases during a five-day stretch that includes Black Friday and Cyber Monday, according to figures from the National …

Cyber Monday: Shoppers expected to spend record $13.2 billion online, report says
Trending News
1 month ago

Cyber Monday: Shoppers expected to spend record $13.2 billion online, report says

Hindustan Times  

Cyber Monday, held on the Monday after the worldwide Black Friday sale tradition, is expected to clock sales worth at least $13.2 billion, 6.1% more than the previous year, according to online shopping tracker Adobe Analytics. FILE - Cyber Monday –- a term coined back in 2005 by the National Retail Federation –- continues to be the biggest online shopping …

Cyber Monday shoppers expected to set a record on the year’s biggest day for online shopping
1 month ago

Cyber Monday shoppers expected to set a record on the year’s biggest day for online shopping

Associated Press  

Consumers in the United States are scouring the internet for online deals as they look to take advantage of the post-Thanksgiving shopping marathon with Cyber Monday. Even though e-commerce is now part and parcel of many people’s regular routines and the holiday shopping season, Cyber Monday — a term coined in 2005 by the National Retail Federation — has become …

Cyber Monday expected to see record spending
1 month, 1 week ago

Cyber Monday expected to see record spending

Salon  

From fruit blenders to noise-canceling headphones, e-commerce sites are slashing prices on almost everything for Cyber Monday, the biggest online shopping day of the year. According to The Associated Press, consumers are expected to spend $13.2 billion on Monday, with spending at an estimated $15.7 million per minute during peak hours of 8 p.m. to 10 p.m. Brick-and-mortar stores reported …

Cyber Monday shoppers are expected to set a record on the year’s biggest day for online purchases
1 month, 1 week ago

Cyber Monday shoppers are expected to set a record on the year’s biggest day for online purchases

LA Times  

Consumers in the United States are scouring the internet for online deals as they look to take advantage of the post-Thanksgiving shopping marathon on Cyber Monday. Even though e-commerce is now part and parcel of many people’s regular routines and the holiday shopping season, Cyber Monday — a term coined in 2005 by the National Retail Federation — has become …

Black Friday goes digital as Americans rack up $10bn worth of online purchases
1 month, 1 week ago

Black Friday goes digital as Americans rack up $10bn worth of online purchases

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Americans spent a staggering …

Holiday shopping in US: Americans expected to spend nearly $1 trillion in Nov-Dec 2024
1 month, 1 week ago

Holiday shopping in US: Americans expected to spend nearly $1 trillion in Nov-Dec 2024

Live Mint  

The National Retail Federation has projected that winter holiday spending for November and December will increase by 2.5% to 3.5% over 2023. Strong holiday spending Despite a cautious consumer outlook, NRF President and CEO Matthew Shay emphasized that the economy remains fundamentally strong, providing solid support for spending growth. “The winter holidays are an important tradition to American families, and …

Is Black Friday still a holiday shopping juggernaut in 2024?
1 month, 1 week ago

Is Black Friday still a holiday shopping juggernaut in 2024?

Hindustan Times  

NEW YORK — After weeks of pushing early deals, retailers in the United States and some other countries tried to seduce customers with promises of bigger discounts on Black Friday, the sales event that still reigns as the unofficial kickoff of the holiday shopping season even if it's lost some luster. Enough consumers enjoy holiday shopping in person that Black …

Retailers bank on Black Friday to energize bargain-hungry holiday shoppers
Trending News
1 month, 1 week ago

Retailers bank on Black Friday to energize bargain-hungry holiday shoppers

Associated Press  

NEW YORK — It’s show time. After weeks of pushing early deals, retailers in the United States and some other countries are promising bigger discounts on Black Friday, the sales event that still reigns as the unofficial kickoff of the holiday shopping season even if it’s lost some luster. “People come to get the deals, but more importantly, they come …

Deal-hungry shoppers hit stores on Black Friday to kick off critical holiday season
1 month, 1 week ago

Deal-hungry shoppers hit stores on Black Friday to kick off critical holiday season

LA Times  

The Christmas tree is a big attraction on Black Friday at South Coast Plaza in Costa Mesa. “Honestly, you’ve got to come in with the mentality: It’s Black Friday,” said Gus Aguirre, a Simi Valley barber, who said his family never misses the biggest shopping day of the year. They suspected they could get the same sort of deals during …

Why retailers still see Black Friday as the high point of the holiday shopping season
Trending News
1 month, 1 week ago

Why retailers still see Black Friday as the high point of the holiday shopping season

Associated Press  

NEW YORK — After weeks of plugging increasingly inviting discounts, retailers in the United States and several other countries are preparing for prime time: Black Friday, the bargain bonanza that still reigns as the unofficial kickoff of the holiday shopping season even if it’s lost some luster. It’s a better experience.” In the U.S., analysts envision a solid holiday shopping …

More deals, more spending: What Black Friday has in store
1 month, 1 week ago

More deals, more spending: What Black Friday has in store

NPR  

More deals, more spending: What Black Friday has in store toggle caption Sarah Silbiger/Getty Images This week officially kicks off the busiest shopping period of the year — it's joy and chaos for shoppers and a make-it-or-break-it season for most retailers. But that's not the whole story: A greater share of people also plan to splurge this holiday season, according …

Credit Card Spends Rise Again in October
1 month, 1 week ago

Credit Card Spends Rise Again in October

Deccan Chronicle  

Mumbai: Fueled by deals offered during the festive season, credit card spends have risen in the last two months. Most of the spends were through online shopping using credit cards due to attractive discounts and deals offered by e-commerce platforms like Amazon and Flipkart during their festive season sales. Bankers said that around 80-85 per cent of the credit card …

US consumers to bargain hunt in annual 'Black Friday' spree
1 month, 2 weeks ago

US consumers to bargain hunt in annual 'Black Friday' spree

Deccan Chronicle  

NEW YORK: US shoppers are coming out in force this holiday season, but the festiveness is being tempered by inflationary pressures that have abated but not completely faded. Americans are "ready to open their wallets this holiday season," said the Conference Board ahead of Black Friday -- the day after Thanksgiving, which this year, falls on November 28 -- that …

Walmart earnings: Holiday shopping is off to a strong start
1 month, 2 weeks ago

Walmart earnings: Holiday shopping is off to a strong start

Live Mint  

Walmart said U.S. sales rose during the most recent quarter as shoppers bought more groceries, home goods and toys, a sign that spending is off to a steady start at the start of the holiday shopping season. The results Sales: U.S. comparable sales, those from stores and digital channels in operation for at least 12 months, rose 5.3% for the …

Retail sales up solidly in October as Americans showed continued willingness to spend
1 month, 3 weeks ago

Retail sales up solidly in October as Americans showed continued willingness to spend

Associated Press  

WASHINGTON — Americans stepped up their spending at retailers last month in the latest sign that healthy consumer spending is driving the economy’s steady growth. Retail sales rose 0.4% from September to October, the Commerce Department said Friday, a solid increase though less than the previous month’s robust 0.8% gain. “People may not love how much it costs to go …

Retail sales up solidly in October as Americans showed continued willingness to spend
1 month, 3 weeks ago

Retail sales up solidly in October as Americans showed continued willingness to spend

LA Times  

Americans stepped up their spending at retailers last month in the latest sign that healthy consumer spending is driving the economy’s steady growth. Retail sales rose 0.4% from September to October, the Commerce Department said Friday, a solid increase though less than the previous month’s robust 0.8% gain. Sales in some categories fell — furniture stores, clothing outlets and drug …

U.S. shoppers spent more at retailers last month in latest sign consumers are driving growth
2 months, 3 weeks ago

U.S. shoppers spent more at retailers last month in latest sign consumers are driving growth

LA Times  

Americans stepped up their purchases at retailers last month as low unemployment, steady pay gains and rising stock and home values helped sustain their willingness to spend despite higher prices. The retail sales figures aren’t adjusted for inflation, and the prices of goods fell slightly last month. Thursday’s retail sales report arrives amid expectations for a solid holiday shopping season, …

U.S. shoppers sharply boosted spending at retailers in July despite higher prices
4 months, 3 weeks ago

U.S. shoppers sharply boosted spending at retailers in July despite higher prices

LA Times  

Americans stepped up their spending at retailers last month by the most in a year and a half, easing concerns that the economy might be weakening under the pressure of higher prices and elevated interest rates. The Commerce Department reported Thursday that retail sales jumped 1% from June to July, the biggest such increase since January 2023, after having declined …

Ongoing sales have boosted spending during a cost-of-living crisis. Will shoppers pay the price with an interest rate rise?
6 months ago

Ongoing sales have boosted spending during a cost-of-living crisis. Will shoppers pay the price with an interest rate rise?

ABC  

Australia's struggling retail sector has been given a glimmer of hope, with rolling sales encouraging shoppers to spend — but economists warn that it may come with the price of another interest rate hike by the Reserve Bank. The recent jump in retail spending, boosted by clothing and footwear retailers offering big discounts and earlier-than-usual sales seasons, has increased expectations …

Retail sales were unchanged in April from March as inflation and interest rates curb spending
7 months, 3 weeks ago

Retail sales were unchanged in April from March as inflation and interest rates curb spending

Associated Press  

NEW YORK — Americans unexpectedly paused their spending in April from March as inflation continued to sting and elevated interest rates made taking on debt more burdensome. Retail sales were unchanged, coming in well below economists’ expectations, and follow a revised 0.6% pace in March, according to Commerce Department data released Wednesday. The retail sales figure came out on the …

Retail sales up strongly in December as Americans showed continued willingness to spend
11 months, 3 weeks ago

Retail sales up strongly in December as Americans showed continued willingness to spend

Associated Press  

NEW YORK — Americans stepped up their spending at retailers in December, closing out the holiday shopping season and the year on an upbeat tone and signaling that people remain confident enough to keep spending freely. Higher energy and housing prices boosted overall U.S. inflation in December, a sign that the Federal Reserve’s drive to slow inflation to its 2% …

Americans ramped up spending during the holidays despite some financial anxiety and higher costs
1 year ago

Americans ramped up spending during the holidays despite some financial anxiety and higher costs

Associated Press  

NEW YORK — Holiday sales rose this year and spending remained resilient during the shopping season even with Americans wrestling with higher prices in some areas and other financial worries, according to the latest measure. This year’s sales are more in line with what is typical during the holiday season, however, after a surge in spending last year during the …

Americans ramped up spending during the holidays despite financial anxiety, higher costs
1 year ago

Americans ramped up spending during the holidays despite financial anxiety, higher costs

LA Times  

Holiday sales rose in 2023 even as shoppers deal with still stubborn inflation in some areas as well as other financial worries, according to one measure. Holiday sales rose this year and spending remained resilient during the shopping season even with Americans wrestling with higher prices in some areas and other financial worries, according to one closely watched measure. This …

Still haven't bought holiday gifts? Retailers have a sale for you
1 year ago

Still haven't bought holiday gifts? Retailers have a sale for you

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “I think this is a more challenging year than …

Black Friday boosts retailers with sales surging in November despite fears of a tough Christmas for many shops
1 year ago

Black Friday boosts retailers with sales surging in November despite fears of a tough Christmas for many shops

Daily Mail  

Black Friday boosted shops last month with retail sales surging far more than expected. The ONS also revised data for October upwards, reporting that there was zero growth in retail sales rather than the 0.3 per cent fall previously estimated. Volumes were up 1.3 per cent in November as Brits sought out bargains, significantly better than the 0.4 per cent …

Still haven’t bought holiday gifts? Retailers have a sale for you
1 year ago

Still haven’t bought holiday gifts? Retailers have a sale for you

LA Times  

Super Saturday is expected to be the second busiest day of the holiday period after Black Friday. That’s lower than last year’s 5.4% growth but more consistent with typical holiday spending, which rose 3.6% between 2010 and 2019 before the COVID-19 pandemic skewered numbers. Adobe Analytics expects U.S. online holiday sales to rise 4.8% from last year between November and …

Retail sales rise 0.3% in November as Americans hit gas, not brakes on shopping, travel, restaurants
1 year ago

Retail sales rise 0.3% in November as Americans hit gas, not brakes on shopping, travel, restaurants

Associated Press  

NEW YORK — Americans picked up their spending from October to November unexpectedly as the unofficial holiday season kicked off, underscoring the power of shoppers despite elevated prices. “While consumers continue to face hurdles from higher borrowing costs, tighter credit conditions and elevated prices, a still-strong labor market, a positive trend in incomes and an easing in price pressures should …

Retail sales rise 0.3% in November as Americans hit gas rather than brakes on spending
1 year ago

Retail sales rise 0.3% in November as Americans hit gas rather than brakes on spending

LA Times  

Despite elevated prices, consumers kicked off the holiday shopping season by keeping up their spending momentum, according to Commerce Department data released Thursday. Americans unexpectedly picked up their spending from October to November as the unofficial holiday season kicked off, underscoring the power of shoppers despite elevated prices. Yet the National Retail Federation, the nation’s largest retail trade group, still …

Black Friday deals this year did not get American customers to shop much
1 year, 1 month ago

Black Friday deals this year did not get American customers to shop much

Live Mint  

It’s not just you. Walmart chief financial officer John David Rainey told investors in an earnings call earlier this month that the company saw a “sharper falloff" in consumer spending toward the end of October. That caution echoed throughout recent earnings reports from retailers ranging from Lowe’s Inc. to Target Corp. Consumers continued to spend this weekend, but they weren’t …

Cyber Monday marks the year’s biggest online shopping day, and one more chance to save on gifts
1 year, 1 month ago

Cyber Monday marks the year’s biggest online shopping day, and one more chance to save on gifts

Associated Press  

Consumers are scouring the internet for online deals as they begin to cap off the five-day post-Thanksgiving shopping bonanza with Cyber Monday. Even though e-commerce is now part and parcel of our everyday lives and much of the holiday shopping season, Cyber Monday — a term coined back in 2005 by the National Retail Federation — continues to be the …

Retailers expecting 'record' Black Friday sales, but Westpac warns of 'penny-pinching' Christmas
1 year, 1 month ago

Retailers expecting 'record' Black Friday sales, but Westpac warns of 'penny-pinching' Christmas

ABC  

Despite high levels of pessimism among Australian consumers, David Wall has noticed a lot of people are buying board games and puzzles at his toy stores ahead of the Black Friday sales. "While we expect overall Christmas trading will be subdued, we're expecting this by Friday to be a record simply because people are shopping on a budget, and they're …

Behind Black Friday’s crowds lie stories of consumers squeezed by inflation
1 year, 1 month ago

Behind Black Friday’s crowds lie stories of consumers squeezed by inflation

LA Times  

Months of punishing inflation have pushed East Hollywood resident Diane Roque to economize by canceling her family’s cable subscription and prioritizing cooking at home. “Now it’s very online-focused, and we’re really looking to see the online velocity surge on the major days like Black Friday and Cyber Monday,” said Vivek Pandya, lead analyst at Adobe Digital Insights. “They’re stretching out …

Black Friday is almost here. What to know about the holiday sales event’s history and evolution
1 year, 1 month ago

Black Friday is almost here. What to know about the holiday sales event’s history and evolution

Associated Press  

NEW YORK — If you didn’t already guess it from a barrage of sales ads in your inbox, the holiday shopping season is upon us. While Black Friday may no longer look like the crowd-filled, in-person mayhem that it was just decades ago — in large part due to the rising dependence on online shopping that was accelerated by the …

Retail trade group: holiday sales expected to slow to 3% to 4%, compared with 5.4% growth a year ago
1 year, 2 months ago

Retail trade group: holiday sales expected to slow to 3% to 4%, compared with 5.4% growth a year ago

Associated Press  

NEW YORK — The National Retail Federation, the nation’s largest retail trade group, expects shoppers will spend more this year than last year, but their spending pace will slow given all the economic uncertainty. The group forecast Thursday that U.S. holiday sales will rise 3% to 4% for November through December, compared with a 5.4% growth of a year ago. …

Shoppers’ holiday spending is expected to top $957 billion, a record amount
1 year, 2 months ago

Shoppers’ holiday spending is expected to top $957 billion, a record amount

LA Times  

Customers shop at a Nathan & Co. store in Oakland in 2022. This year’s holiday spending is expected to beat last year’s record spending of $929.5 billion. The National Retail Federation, an industry trade group, said holiday spending is forecast to reach record levels this year — up 3% to 4% from last year. Business Despite higher prices, American shoppers …

Retail sales rose solidly last month in a sign that consumers are still spending freely
1 year, 4 months ago

Retail sales rose solidly last month in a sign that consumers are still spending freely

Associated Press  

NEW YORK — Americans increased their purchases at retailers last month – for clothing, dining out, online goods and other areas – in a sign that solid consumer spending is still powering a resilient U.S. economy. Analysts noted that spending on Amazon Prime Day, the online juggernaut’s big two-day sales event that took place earlier last month, also helped boost …

Consumers keep spending freely, powering a resilient economy
1 year, 4 months ago

Consumers keep spending freely, powering a resilient economy

LA Times  

Items are displayed in a boutique along Tennyson Street in Denver. Americans increased their purchases at retailers last month — for clothing, dining out, online goods and other items — in a sign that solid consumer spending is still powering a resilient U.S. economy. Analysts noted that spending on Amazon Prime Day, the online juggernaut’s big two-day sales event that …

Americans keep spending, defying inflation and interest rate hikes
1 year, 10 months ago

Americans keep spending, defying inflation and interest rate hikes

LA Times  

Shoppers pass a large L.L. America’s consumers rebounded last month from a weak holiday shopping season by boosting their spending at stores and restaurants at the fastest pace in nearly two years, underscoring the economy’s resilience in the face of higher prices and multiple interest rate hikes by the Federal Reserve. Wednesday’s robust retail sales figures, along with a strong …

Out of pocket, not spirit: Despite inflation, people to spend record bucks on Valentine’s Day – Firstpost
1 year, 10 months ago

Out of pocket, not spirit: Despite inflation, people to spend record bucks on Valentine’s Day – Firstpost

Firstpost  

It’s Valentine’s Day and couples are willing to spend a bomb to portray their love. NRF President and CEO Matthew Shay said, “This year, as consumers embrace spending on friends and loved ones, retailers are ready to help customers celebrate Valentine’s Day with memorable gifts at affordable prices.” Economic woes will not stand in the way of love, said most …

Retailers suffer disappointing January as consumers brace for more bill rises
1 year, 11 months ago

Retailers suffer disappointing January as consumers brace for more bill rises

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Many retailers discounted heavily to entice consumer spend, and while there were bargains to …

Retail group: Holiday sales up slower-than-expected 5.3%
1 year, 11 months ago

Retail group: Holiday sales up slower-than-expected 5.3%

Associated Press  

NEW YORK — Sales for the holiday 2022 season slowed more than expected from its blistering pace a year ago as higher borrowing costs and higher inflation made shoppers pull back, according to the nation’s largest retail trade group. The National Retail Federation said Wednesday that holiday sales for the combined November and December period rose 5.3% to $936.3 billion. …

Holiday sales up 7.6% despite the squeeze of inflation
2 years ago

Holiday sales up 7.6% despite the squeeze of inflation

LA Times  

Holiday sales rose this year as American spending remained resilient during the critical shopping season despite surging prices on everything from food to rent, according to one measure. Holiday sales rose 7.6%, a slower pace than the 8.5% increase from a year earlier when shoppers began spending the money they had saved during the early part of the pandemic, according …

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