Report: Retail Sales Rise 4.5% for 2007 Holiday Season
Chicago Research group ShopperTrak reported that retail sales for the November-December 2007 holiday season increased a better-than-expected 4.5% compared to last year.
“The holiday 2007 retail sales performance overwhelmingly proves the U.S. consumer is resilient,” noted Bill Martin, co-founder of ShopperTrak. “Based on stagnant traffic and various economic concerns, retailers were understandably a bit nervous heading into the season, but the strength of Black Friday weekend added to the shopping surge experienced on Super Saturday helped sales exceed our expectations.”
According to the report, Black Friday once again led the way as the top sales day, with $10.3 billion spent, followed closely by Dec. 22, the Saturday before Christmas, with a $9.36 billion performance.
Individually, monthly sales for December vs. 2006 rose 3.5% while November increased a steady 6%, according to the report.
U.S. foot traffic for the 2007 holiday season slipped 2.7% as compared to 2006, according to ShopperTrak. On a monthly basis, December traffic fell 4.7% while November posted a 5.8% rise as compared to the same period in 2006.