By: Ted Patterson
A retail research firm reports “Super Saturday” was the biggest spending day in U.S. history.
Holiday shopping set records over the weekend, with Super Saturday sales reaching $34.4 billion, the biggest single day in U.S. retail history, according to Customer Growth Partners (CGP).
Job growth and fatter wallets, along with stronger household finances, have put consumers in a buying mood this season, Craig Johnson [CGP President] said. And more of them are shopping online. As retailers offer improved web platforms, online spending so far this season has accounted for 58% of sales growth from a year earlier, he said.
Why It Matters:
It’s the economy, stupid.
“The question now is whether today’s stellar momentum leads to sustained economic growth into 2020 and beyond.”
Ted Patterson is editor of Republic Press.