U.S. retail sales excluding auto and gas grew 7.9% during the traditional Black Friday to Christmas Eve shopping season. The biggest winners this season were eCommerce and furniture, with double-digit growth, while electronics and men's apparel lagged well behind... eCommerce grew roughly 20% compared to last year. This is not a total surprise, as 70% of U.S. consumers report doing more research online than before...
According to Slice Intelligence, Amazon has dominated the holiday online spending consistently claiming in the mid-forty percent of overall eCommerce revenues.
And there were no systemic supply chain failures given the timing of Christmas and the absence of serious weather impacts involving dense population centers.
JANUARY 5 UPDATE:
Given the overall growth in retail sales, the holiday sales disappointments experienced by Macy's, Sears (and Kmarts) and Kohl's are especially significant. Sears reports November and December sales were 12-13 percent less than last year. (!)
JANUARY 5 UPDATE:
Given the overall growth in retail sales, the holiday sales disappointments experienced by Macy's, Sears (and Kmarts) and Kohl's are especially significant. Sears reports November and December sales were 12-13 percent less than last year. (!)
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