Early reports suggest the holiday season was a banner year for retailers, ushering in vigorous sales activity even in categories, like apparel, that have been struggling for several quarters now. Shoppers are flush with confidence, as unemployment has ebbed and the housing market has remained solid, making consumers bold in their purchases.
December sales were buoyed by the 3.2% growth in gross domestic product in the third quarter, on top of 3.1% growth in the second quarter; consumer confidence going into the month was at a 17-year high, noted Retail Metrics president Ken Perkins in a note emailed to Retail Dive. Equity markets have hit all-time highs throughout the holiday season, and existing home sales in November hit a decade high even as home prices are gaining, he said.
