Americans’ holiday shopping boosts retail industry

The Black Friday discounts and Cyber Monday deals triggered a shopping fever among American consumers that resulted in good sales for the retail industry in the United States.

According to MasterCard Advisors’ SpendingPulse, clothing registered the highest sales in this year’s Christmas shopping. By market, teen clothing racked up a 12 percent hike, men’s clothing registered a 7 percent increase and women’s clothing logged a 4 percent improvement.

According to Mike McNamara, SpendingPulse vice president of research and analysis, the November sales are good indicators of Yuletide spending.

Aside from clothing, sales of luxury items increased 1.6 percent, while electronics dipped 1 percent. Another big winner for the yearend holiday spending spree is online shopping, which jumped 12 percent in November to $27.5 billion. Retail sales are expected to increase 3 to 4 percent for the 2010 holiday season.

Read Full Article from Gant Daily

- Posted: 2010-12-20 09:15:39

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