Post-Christmas rush boosts last week`s retail sales 14% over last year
Retail sales for the week ended Dec. 29 were up 14% over the comparable week a year ago, as consumers rushed to stores to take advantage of sales and spend their gift cards, according to the National Retail Sales Estimate compiled by retail data specialist ShopperTrak RCT Corp. Foot traffic to stores was up 6.9% over last year.
The late shopping push puts retail sales on track to reach the 3.6% gain in overall retail sales ShopperTrak has predicted for the holiday season. By contrast, web measurement firm comScore Networks has projected a 20% increase in holiday online sales.
Total retail sales for the week that ended Saturday were down an anticipated 17.7% from the week ended Dec. 22, which included the busy final Saturday before Christmas, and foot traffic to stores was down 7.9%, ShopperTrak reports.
Nonetheless, the week that included Christmas delivered big crowds to stores and shopping malls, says Bill Martin, co-founder of ShopperTrak. “Early in the week, on Sunday and Monday, retailers experienced the expected boost provided by procrastinating shoppers who swamped stores for last minute gift buying,” Martin says. “Then, in the days immediately following Christmas consumers flocked to stores to take advantage of post-Christmas sales and to begin redeeming gift cards, which was definitely a welcome sight for retailers this season.”
The ShopperTrak report is based on a sample of more than 50,000 retail and enclosed mall locations in the United States.
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