Advanced Search

Online Retail Sales +16% to $39B, Store Sales Weaken

Gift Sales +1%, Online Promos Spur Last Minute Shopping

Dec 26, 2012 6:00 PM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


Diamond markets are relatively quiet but there is increased attention on U.S. Christmas retail figures as analysts scale-back seasonal growth expectations. Aside from strong online retail sales growth, the industry may have been hit by weaker than expected consumer sentiment following a strong Thanksgiving weekend.

MasterCard Advisors SpendingPulse estimated that retail sales for such key gifting categories as electronics, clothing, jewelry, luxury goods, furniture and other home goods rose only 0.7 percent between October 28 and December 24. But retailers could still experience strong sales this week said Michael McNamara, the vice president for research and analysis at SpendingPulse.

Meanwhile, comScore observed that Christmas-season retail sales from November 1 through December 22 jumped 16 percent year on year to  $38.7 billion and that rate of growth was in line with expectations. retail sales

“Free Shipping Day kicked off the final week before Christmas on a strong note with $1.01 billion in spending,” said comScore's chairman Gian Fulgoni. “It was the opening to an exceptionally strong week, which saw spending grow by 53 percent. We typically do not see such heavy spending this late in the season, but the fact that Free Shipping Day occurred on a Monday, combined with the fact that so many retailers extended their promotions into the middle of the week -- with guaranteed shipping by Christmas -- helped deliver an encouraging late-season surge. The result has been a significant uptick in the season-to-date growth rate, which now stands at 16 percent.”

Tags: Rapaport News, retail sales online sales christmas gifts spendingpulse
Similar Articles
Rapaport TradeWire April 27, 2017
Apr 28, 2017
IndustryRetailMiningGeneralFinanceApril 27, 2017RAPAPORT MARKET COMMENT Diamond trading quiet but sentiment positive due to improving retail...
Rapaport TradeWire April 6, 2017
Apr 06, 2017
RAPAPORT NEWS SERVICE | April 6, 2017 | Industry Retail General Mining EconWatch India Rapaport...
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2017 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.