Holiday sales rise at best pace in 6 years
Holiday retail sales rose at their best pace since 2011, thanks to strong consumer confidence and a healthy job market, Mastercard SpendingPulse reported. "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, which tracks spending online and in stores.
Retailers got help from the calendar, with shoppers getting a full weekend for last-minute buys because Christmas fell on a Monday. Sales, excluding automobiles, rose by 4.9 percent over the Nov. 1 to Christmas Eve season, up from a 3.7 percent gain last year. Online sales continued to be the driving force, increasing by 18.1 percent.
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Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.
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