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.
Members of the Kappa League mentoring program at Wyandanch Memorial High School in Long Island, NY are preparing for an educational trip to Ghana. Principal Paul Sibblies is on a mission to enrich his students' lives to put some of them in touch with their roots. "When you invest in young people, then it's the greatest investment you can make," he said.
A group of 15 students recently graduated from SANYS U., a six-week program held by the Self Advocacy Association of New York State. The course helps people with disabilities to advocate on their own behalf, learning more about their rights, legislation and issues that matter most.
The minivan is turning 40 years old this year. While it made up just 1.8 percent of the car market in 2022, that number could begin to tick up, as more families increase interest in the car's advantages. Cheddar News' senior reporter Michelle Castillo takes a deeper look at the minivan's lineage.
Cheddar News correspondent Shannon LaNier rings in the Thai New Year at 11 Tigers in the East Village neighborhood of Manhattan. The restaurant is one of the only locations in New York City to celebrate.
