U.S. retailers see holiday sales weakest since 2008

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U.S. retailers see holiday sales weakest since 2008

Despite huge lines recorded on Black Friday, the U.S. retailers understood that Americans were not so keen on opening their wallets during the 2012 holiday shopping season. Cautiousness of American customers resulted in the worst holiday shopping season since 2008 when the country entered a recession. Analysts note that weather conditions and concerns over the economy including the fiscal cliff were the main factors of unsatisfactory results of U.S. holiday sales.

Gloomy holiday sales

On the 25th of December, data released by MasterCard Inc.’s SpendingPulse unite, showed that sales between the 28th of October and the 24th of December rose only 0.7 percent, compared to the same period a year ago. Experts had estimated that U.S. holdiays sales would climb between 3 percent and 4 percent. The growth of 0.7 percent is well below  the initial forecasts. But those results came not long after ShopperTrak decided to downgrade its 2012 holiday growth forecast to 2.5 percent.

http://newsdoors.blogspot.com/2012/12/us-retailers-see-holiday-sales-weakest.html