Shoppers spend a little more during holiday season - KWWL - Eastern Iowa Breaking News, Weather, Closings

Shoppers spend a little more during holiday season

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NEW YORK (KWWL) - Merchants may have some reason to celebrate.

New numbers indicate that holiday shoppers spent a little more this season. It would mean that retailers managed to avoid a repeat of last year's disaster, even though credit is tight and unemployment is in double-digits.

According to MasterCard Advisors' SpendingPulse, which tracks all forms of payment -- including cash -- retail sales rose by 3.6 percent from the beginning of November through Christmas Eve.

When adjusted for an extra shopping day between Thanksgiving and Christmas, the number was closer to a 1 percent gain.

The higher spending should bring healthier profits, since stores had a year in which to plan their inventories to match consumer demand, and didn't have to resort to drastic price-cutting.

Online News Director Nate Leding

 

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