NEW YORK (AP) — More people did their shopping online this year during one of the shortest holiday shopping seasons in years, helping to push total sales higher.
Retail sales in the U.S. rose 3.4% between Nov. 1 and Dec. 24 compared with last year, according to early data from Mastercard SpendingPulse.
Online sales rose at a faster pace, up 18.8% from last year. Online shopping made up nearly 15% of total retail sales.
Mastercard SpendingPulse tracked spending online and in stores across all payment types, including those who paid by cash or check. Sales of automobiles are not included.
Faced with the shortest holiday shopping season since 2013, stores were trumpeting deals even before Halloween with hopes of getting people to think about Christmas.
Thanksgiving landed on Nov. 28 this year, the latest possible date it could fall. That meant six fewer days than last year, forcing last-minute shoppers to scramble. The Saturday before Christmas was the busiest shopping day in U.S. history, surpassing Black Friday, according to research firm Customer Growth Partners.
Clothing sales rose 1%, Mastercard said. Jewelry sales increased 1.8%. Sales of electronics and appliances rose 4.6%. And furniture sales grew 1.3%.
Department stores, which have been hit hard by the rise of online shopping, still had trouble getting shoppers in their doors: total sales fell 1.8%, Mastercard said.
After the 2021 boom, IPO activity slowed down significantly, in part due to monetary policy – but things are getting moving again with tech-friendly companies like Iboutta and Rubrik making a public debut.
With an increasing demand for mental health services, one person wanted to change the therapy game. In 2017, CEO Alex Katz founded Two Chairs, a company that uses technology to match patients with the right therapist.
Not only is April Financial Literacy Month, it’s also the kickoff of the spring homebuying season. So now is the time to make sure you have a financial plan in place – and why it might not be wise for that to include buying your first home.
While the U.S. may slowly be on the path to lowering inflation (and therefore interest rates), Europe has thoroughly trounced America, putting it on the path to lower rates by this summer.
April's release of the monthly Housing Starts and Building Permits reports by the Census Bureau provides crucial insights into the construction activity in the housing market. These reports are an economic indicator, shedding light on the current state of the housing market and its broader economic impact.
Caitlin Clark is heading to the Indiana Fever, the number one draft pick and the highest-scoring college basketball player of all time. And while she may not be getting millions from the WNBA, there's a few ways she'll net compensation for her generational talents.
Author of 'Clean Meat,' Paul Shapiro joins Cheddar to discuss how the cellular agricultural revolution helps lower rates of foodborne illness and greatly improves environmental sustainability. Plus, how his company The Better Meat Co. is bringing healthier food options to the table.
Recent headlines might make it sound like World War III is imminent, but when it comes to your finances, it's not the time to panic. The market is coming off its longest winning streak since 2011.