Weak Holiday Season Over-all
Less than 1% Growth
Published: 12/28/2012 03:27am
Sales this holiday season were up only 0.7% vs. a year ago, according to MasterCard Advisors Spending Pulse as reported by Bloomberg. Superstorm Sandy and declining consumer confidence were cited as causes, with a weak finish to the season. Fiscal cliff concerns may have contributed to the declining consumer confidence.
Other sources were reporting stronger year-over-year growth, but none may have the breadth of information that MasterCard provides. ShopperTrak estimated holiday sales up 2.5%. The National Retail Federation expected sales to end up 4.1%.
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