Holiday sales increased 5% over last year, according to Mastercard SpendingPulse report, marking the largest year-over-year increase since 2011. Christian Magoon, CEO of Amplify, and Melissa Gonzalez, CEO and Founder of Lion'esque Group, join The Long and The Short to recap retail in 2017 and make predictions for 2018.
According to the Mastercard survey, aggressive promotions early in the holiday season were the main driver for the uptick in retail sales. As for the specific categories that saw growth: sales of electronics and appliances increased by 7.5%, and home furnishings and improvement sales jumped 5%. However, women's apparel was negative over the entire year.
Magoon believes mobile commerce is growing by leaps and bounds, which is a direct result of retail sales going up. This is a white-hot growth opportunity for retailers, as smart devices, faster internet, and more trusted mobile payment technology push mobile sales above desktop or foot-traffic. Gonzalez says that retail stores need to start offering perks to their shoppers to get them in the store. Additionally, aggressive discounts were a main driver this year.
Nicki Minaj just reached a milestone that no other woman in rap has reached.
Jack Harlow is making his way to the Metaverse, as the rapper is set to perform a VR concert that will be accompanied by a documentary.
A Utah mother of six who gave parenting advice via a once-popular YouTube channel called “8 Passengers” has pleaded guilty to four counts of aggravated child abuse for abusing and starving two of her children.
During an appearance on The Tonight Show, Jessica Chastain recalled a time when Taylor Swift emailed her a curated breakup playlist.
Nicola founder Trevor Milton is set to be sentenced in a New York Court on three charges related to defrauding investors.
Pope Francis has formally approved allowing priests to bless same-sex couples.
Vogue magazine shared an extensive list of the top memes this year.
Ben Zoffness, founder of Zoffness College Prep, shares some creative tips to keep kids' minds on learning during winter break.
The Metropolitan Museum of Art announced on Friday it will return 16 ancient items to Cambodia and Thailand.
Actor and chef David Burtka tells us about the best part of the holiday season with husband Neil Patrick Harris and their family. Plus: a very special jam collaboration between the couple and Beth's Farm Kitchen that will benefit City Harvest.
