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HomeFashionUS holiday sales up 4.8% YoY; clothing-accessories see 5% rise: Visa

US holiday sales up 4.8% YoY; clothing-accessories see 5% rise: Visa



US holiday sales up 4.8% YoY; clothing-accessories see 5% rise: Visa

The overall US holiday retail spending this year increased by 4.8 per cent year on year (YoY), according to Visa Consulting & Analytics’ (VCA) first Retail Spend Monitor, which reveals that US consumers headed back to stores, online retail shopping continues to grow and clothing and accessories are in season.

The figure covers all forms of payment, including cash and check and is not adjusted for inflation.

The overall US holiday retail spending this year increased by 4.8 per cent YoY, according to Visa Consulting & Analytics’ (VCA) first Retail Spend Monitor, which reveals that US consumers headed back to stores and online retail shopping continues to grow.
This holiday season saw a 5-per cent rise in sales for clothing and accessories compared to 2.4 per cent in the last year’s season.

Out of total holiday retail spending in the country, 77 per cent of total payment volume was in store versus 23 per cent online, showing the in-store experience remains important for the consumer. Total retail spend in stores grew at a rate of 4.1 per cent, versus 1.6 per cent last year.

Online retail shopping increased by 7.1 per cent, versus 10.3 per cent last year, showing consumers continue to rely on its convenience and ease during the holiday season.

This holiday season saw a 5-per cent rise in sales for clothing and accessories compared to 2.4 per cent in the last year’s season.

“This holiday shopping season, we’re seeing increasing consumer confidence as people sought out in-store experiences—and went online—to purchase gifts and celebrate the holidays with friends and family,” said Wayne Best, chief economist at Visa.

“This spending growth demonstrates the adaptability of both consumers and retailers and the overall strength of the economy,” he noted in a company release.

Fibre2Fashion News Desk (DS)




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