US Holiday Sales hit the highest in six years showcasing that consumers feel comfortable with their financial situations.
Shoppers delivered the strongest holiday sales increase for U.S. retailers in six years, according to early data.
Total U.S. retail sales, excluding automobiles, rose 5.1% between Nov. 1 and Dec. 24 from a year earlier, according to Mastercard SpendingPulse, which tracks both online and in-store spending with all forms of payment. Overall, U.S. consumers spent over $850 billion this holiday season, according to Mastercard.
This comes even as the stock market was beginning its downward trend.
This can either mean two things.
The first is that people are mostly comfortable with their financial situations. If people are spending more along the Holidays it is likely due to the fact they feel they have more money to spend on loved ones.
Second is that people don’t care about their financial situations and want to buy the best things for their loved ones regardless of the price. Debt is always the story of the post Holiday season so we will keep our eyes open for those stories.