Holiday sales growth about half of last year: report

Holiday sales growth about half of last year: report

Dec 18, 2006,

NEW YORK - Shoe sales have jumped this holiday season, but they haven't been enough to kick up holiday sales growth overall, according to a MasterCard Advisors survey. The data, which focus on credit card spending and other economic indicators, show that spending in November and December has climbed at half the rate of last year's 8-percent growth.

Due to warmer-than-usual temperatures, apparel sales growth has lagged, with spending rising 2 percent to 4 percent, from last year's 5 percent to 6 percent, according to sales figures captured by SpendingPulse, retail data service provider for MasterCard Advisors. Spending on home goods, too, has slowed as higher interest rates have crimped new housing demand and consumers have held off buying appliances such as refrigerators and microwaves.

The statistics offer an early sign of the strength of holiday sales, which analysts, investors and retailers scrutinize to determine consumer strength and confidence. Holiday sales have a material impact on an array of retailers, including Wal-Mart Stores Inc., high-end handbag maker Coach Inc. and department store operator Federated Department Stores Inc.

'We're looking at the midpoint of the holiday season, heading into the home stretch,' said SpendingPulse Vice President Michael McNamara. 'Overall, sales are up but not at the same growth rate we've gotten used to seeing over the last couple of years.' The last 10 days before Christmas will account for 25 percent of total sales volume for the holiday selling season, McNamara said.

'The housing market slowdown is having a ripple effect,' he said, 'And warmer weather hasn't helped apparel sales. What we want to see is nice, clear and cool conditions.'

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http://news.monstersandcritics.com/usa/news/article_1234259.php/Holiday_sales_growth_about_half_of_last_year_report

Christmas shopping has been a piece of cake this year. No hassles, no long lines and retailers being really, really helpful. I'm anticipating some good deals this weekend.

thanks for posting the story.

& yr. welcome!

at convenient times but even with that there has been far less customers then I have contended with in the past. Although I know that might not be good for the economy I've found it incredibly easy and convenient to do my shopping this year with the lack of fellow shoppers and stores doing their damndest to get us into their stores. Maybe there will be a last minute wave of shopping to right the ship.

I started "holiday hours" two weeks ago, staying open a bit later. The day that began I told my fiance I had 4 visitors to the gallery, and two of them were myself, coming back in the door from getting a coffee and muffin at the bakery next door!
It's slow.

I'm having a hard time shopping for the man who has everything. I will light a candle for your good health at St Louis Cathedral, I promise.

lsot good jobs being replaced by service jobs, do ya?

Let's see.

Wages for the middle class have been stagnant for 6 years.

Health ins. costs more of the employee's pay than ever before.

Housing repos are up.

Credit card balances are up.

Almost all mfg. businesses in the US haveeither closed or outsourced their jobs to India, etc.

Ford is close a bunch of plants.

We no longer manufacture clothing in the US.

Gee, I wonder if all that hype about the economy being so great is just that...HYPE!!!!

Good post. I think people are starting to get scared except for the upper middle and upper class.

going to have to get used to that. Global warming is not good for business, the naysayers (those in denial that it exists) better start thinking about that.

Having just come home from swimming in an outdoor pool, I had to laugh.

n/t

Wonder what that means? Boots (?) becasue of a lot of snow this year so far?

Maybe it could mean people are just buying necessities, shoes, coats, etc