Throughout 2017 it seemed that every week a brick and mortar retailer was going out of business. Big names like RadioShack, The Limited, Payless ShoeSource, and Toys R’ Us all went under in 2017, and there are plenty of other retailers on the edge.
But according to MasterCard, retailers, including e-commerce, did well in the last months of 2017. MasterCard tracked an increase of 4.9% in sales at retailers (excludes autos) from November 1 to December 24. That’s larger than the 3.7% recorded last year. Suzanne Kapner reports at The Wall Street Journal:
“It started with a bang in the week leading up to Black Friday,” said Sarah Quinlan, a senior vice president of marketing insights at Mastercard. She added that retailers benefited this year from Christmas Day falling on a Monday, giving shoppers a full weekend to scoop up last-minute purchases. Dec. 23 ranked next to Black Friday in terms of spending, according to Mastercard.
“Overall, this year was a big win for retail,” Ms. Quinlan said.
Read more here.
Jeremy Jones, CFA
Latest posts by Jeremy Jones, CFA (see all)
- Goldman Warns on Junk Bonds - May 25, 2018
- America Records Fastest Home Price Inflation Since 2006 - May 24, 2018
- If You Had to Choose, Cell Phone or Car? - May 23, 2018