SpendingPulse Detects Little Pre-Xmas Retail Activity
by Christina Lee on December 23rd, 2008
Reports of this year’s pre-Christmas retail environment showed that, despite deep discounts and high hopes, consumers did not shop as much as they did last year. Retail sales are expected to fall by 8 percent in December through Christmas Eve, after falling 5.5 percent last month, according to MasterCard’s SpendingPulse report. Both declines, with the economy and weather in mind, added up to “one of the most challenging holiday shopping seasons in decades,” said Michael McNamara, vice-president of research and analysis. With the average price per gallon down by almost 50 percent compared to last year, gasoline sales also dragged... Read more »