December 24, 2019

Holiday Shoppers Set Single-Day Record

  • Flyover Country

By: Ted Patterson

In Brief:

A retail research firm reports “Super Saturday” was the biggest spending day in U.S. history.

The Background:

MSN.com reports:

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.

Notable Quotes:

“The question now is whether today’s stellar momentum leads to sustained economic growth into 2020 and beyond.”

  • Craig Johnson, Customer Growth Partners President

Ted Patterson is editor of Republic Press.

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