If shopping records are any indication of America’s holiday mood, Christmas 2019 was a very merry one for millions of Americans. Merchants are certainly laughing all the way to the bank.
According to the consulting and research firm, Customer Growth Partners, this Super Saturday (the last Saturday before Christmas Day) was the largest shopping day ever in U.S. retail history. America’s procrastinators racked up $34.4 billion in sales last weekend as they searched for those last-minute gifts and unbeatable deals — both online and in brick and mortar stores. Sales on Super Saturday topped Black Friday’s $31.2 billion in sales by 10% and far outstripping the next closest, Dec. 14, with $28.1 billion, and Cyber Monday, with $19.1 billion.
Craig Johnson, president of the retail research group, explained, “Paced by the ‘Big Four’ mega-retailers — Walmart, Amazon, Costco, and Target — Super Saturday was boosted by the best traffic our team has seen in years. The spending momentum was so strong that even the long-ailing department stores had their best weekend of the season.”
There is little doubt that a red-hot economy has Americans in a holly jolly mood. Johnson credits job growth, fatter wallets and stronger household finances with putting consumers in a spending mood this holiday season. As an indication of just how prolific this shopping season has been, although online sales account for 58% of all purchases, more people also went to malls and other shops to buy gifts. Johnson says that even department stores that have struggled with sales experienced their best weekend in this season.
With jobs aplenty, a soaring stock market and rising wages, Americans are in a festive mood this holiday season. We see little to dissuade us that soaring economic growth will not continue. Here’s hoping to a prosperous 2020 and beyond.
— Robin Beres