News

SpendingPulse: Key categories over holiday in slight 0.7% year-over-year gain

BY Marianne Wilson

Purchase, N.Y. — Spending in key categories experienced a slight year-over-year gain of 0.7% during the 2012 holiday period, with the season slowed down by a combination of factors, according to a SpendingPulse report released by MasterCard Advisors, the professional services arm of MasterCard. Sub-sectors measured in the SpendingPulse Holiday Index report are apparel, electronics, online, luxury, jewelry and furnishings. (SpendingPulse data estimates retail sales across all payment forms.)

Last year, during a similar period (Oct. 30 to Dec. 24), sales grew by 2% year-over-year.

“The Northeast, Mid-Atlantic and North Central regions of the country all lagged the national average growth, while the Southern and western regions of the country experienced more positive holiday shopping seasons. You really did have two kinds of results, depending on the region — one had a relatively negative season, while the other was more in line with the lower end of expectations. And between the two, even with all the negative headwinds, the country managed to gain slightly over last year,” said Michale McNamara, global solutions leader, MasterCard SpendingPulse.

SpendingPulse noted that the season had a difficult start, coinciding with Hurricane Sandy. The first two weeks of November were negative as the Northeast and Mid-Atlantic regions experienced substantial declines in holiday related categories. There was a recovery in sales growth during the second two weeks of November as promotional activity both online and in brick-and-mortar stores helped stimulate growth. But it subsided in the first half of December with several areas returning to negative growth versus early December 2011.

“While in most years, there is a similar soft patch in the first half of December, this year’s “soft patch” was weaker than usual,” McNamara said.

Sales improved again for the final stretch run, but again, disruptive weather conditions may have limited overall sales growth.

“Outside of Hurricane Sandy’s impact zone, the holiday season was definitely positive and more in line with expectations,” McNamara said. “But given that the Mid-Atlantic and Northeast regions account for about 24% of total U.S. retail, if those regions go negative, they definitely have an impact on the overall numbers.

keyboard_arrow_downCOMMENTS

Leave a Reply

W.Filam says:
Jan-16-2013 09:26 pm

By now, the range should be heated enough. Position a few yams on the bowl, and put it in the range on the center holder. sweet serials Set a here we are at an time, and let the apples prepare.

W.Filam says:
Jan-16-2013 09:26 pm

By now, the range should be heated enough. Position a few yams on the bowl, and put it in the range on the center holder. sweet serials Set a here we are at an time, and let the apples prepare.

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Trial over Macy’s and Martha Stewart rights set for February

BY Staff Writer

New York — The battle between Macy’s Inc., J.C. Penney Co., and Martha Stewart Living Omnimedia Inc. will go to trial Feb. 19, Bloomberg reported.

A New York State judge on Thursday said he case will not be tried before a jury and there will be no need to decide damages.

Instead, any potential damages in the dispute “are going to pale in comparison to the injunction,” the judge said. “That’s the real big bucks there — if I stop this deal.”

Macy’s is claiming that it has the exclusive right to sell Martha Stewart Living products in certain categories. The department store company sued J.C. Penney and Martha Stewart Living seeking to stop their sales agreement, which was announced at the end of 2011.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Online sales set new record

BY CSA STAFF

Online holiday season sales grew 14% to $42.3 billion, a little short of comScore’spre-season forecast.

The online measurement firm originally projected that online sales during the November and December period would increase 16% to $43.4 billion. However, after a strong start online sales fizzled a bit in early December and never quite regained enough momentum to achieve the firm’s earlier target.

The latter portion of the season saw several days with particularly strong growth, including Free Shipping Day on Monday, Dec. 17 (up 76% to $1.013 billion) and Christmas Day (up 36% to $288 million, but they could not make up for the spending growth shortfall earlier in the month, according to comScore. While the holiday season started off with strong growth rates on the upper end of the mid-teens through the heavy promotional period, a December swoon in consumer confidence gave way to softer than expected buying during the critical shopping weeks in early to mid-December, from which growth rates never fully recovered.

"The 2012 online holiday season was once again a very strong season with growth rates in the mid-teens as we reached record-setting spending levels," said comScore chairman Gian Fulgoni. "This year’s growth rate is essentially on a par with last year’s. But despite many positives for the online sector, this year’s season did not quite perform up to our initial expectation for growth rates in excess of 16% as we fell a billion dollars short of our expected total of $43.4 billion."

A very healthy 16% growth rate through the promotional period of Thanksgiving, Black Friday and Cyber Monday quickly gave way to a consumer pullback that comScore attributed to concerns over the fiscal cliff.

"With Congress deadlocked throughout December, growth rates softened even further and never quite made up enough ground to reach our original expectation," Fulgoni said. "While it is typical to see growth rates subside slightly during the week after Thanksgiving, the amplified and sustained lull this year came as something of a surprise. As it turns out, this December swoon coincided closely with a significant decline in the University of Michigan consumer sentiment index that was attributed  in large part to consumers’ fiscal cliff concerns."

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...