Retailers have found a saving grace to what was a slow kickoff of Holiday 2016. Just recently, experts said that an increase in last-minute shoppers and online orders have resulted into sales growth for the season.
Research organization Customer Growth Partners has raised its holiday sales growth forecast from 4.1% to 4.9%, synonymous to what is slated to be the fastest growth rate since 2005.
In relation, a recent survey from Mastercard showed that total retail sales rose from November 1 to December 24, even if jewelry sales decreased from a year ago.
Conference Board, a research firm, said that consumer confidence is high at its highest now since August 2001, mostly because Americans now have improved expectations for job growth and rising incomes. In relation, the Labor Department has reported that national wages have increased by 2.5% and that U.S. joblesseness fell to its lowest since November nine years ago.
These figures have since applied into both online and brick-and-mortar retailing. The organization RetailNext stated that the average shopper spent almost 11% more the week before Christmas, and that when shoppers do visit physical stores, they tend to buy and spend more.
In relation, consultancy firm Kurt Salmon reported that almost all the 32 retailers they surveyed recently have managed to process all online orders placed by the last day they were guaranteed for Christmas delivery. While messenger companies like UPS have shipped more packages than last year, UPS said that it expects to ship back 5.8 million packages back to retailers as people send back items they don’t want to keep.