Holiday sales climb, boosting retailer hopes that shoppers will spend during uncertain 2024
Publishing timestamp: 2024-01-17 13:43:52
Summary
Holiday sales in the US rose 3.8% year over year to $964.4 billion, reflecting a return to pre-pandemic levels. The sales growth was in line with expectations and showed the resilience of consumers despite higher prices. Online sales and nonstore sales saw significant gains, while some retail categories, such as sporting goods and furniture stores, saw declines. Economists and retailers are uncertain about consumer resilience in 2024 due to factors like the presidential election, inflation, and supply chain disruptions. Some retailers have already raised their outlooks based on better-than-expected holiday sales.
Sentiment: POSITIVE
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Source: https://www.cnbc.com/2024/01/17/holiday-2023-sales-rise-raising-retail-hopes-for-2024.html