LONDON—British retail sales slumped in December after consumers did much of their Christmas shopping earlier than usual in November and many people stayed at home due to the spread of the Omicron COVID-19 variant. Economists said the scale of the hit bolstered their expectations that the world’s fifth-biggest economy shrank last month under the strain…
UK Shoppers Slash December Spending After Earlier Xmas Spree, Omicron
Holiday Retail Sales Rise 8.5 Percent as Online Shopping Booms
Retail sales rose 8.5 percent during this year’s holiday shopping season from Nov. 1 to Dec. 24, powered by soaring e-commerce sales, a report by Mastercard Inc. said on Sunday. E-commerce sales jumped 11 percent in this year’s holiday shopping season, according to Mastercard SpendingPulse report, yet again underscoring the COVID-19 pandemic’s role in transforming customers’…
Retailers Scale Back Savings, Sending Shoppers to Discount Stores
This holiday season, retailers have curbed their deep discounts, prompting consumers to visit discount stores amid surging inflation. Black Friday and Cyber Monday sales were considered disappointing by market analysts. It turns out that promotional emails, flashy advertising materials, and the buzz over seasonal shopping were not enough to allure consumers this year. While shoppers…
Target Will No Longer Open Stores On Thanksgiving Day
Target will no longer open their retail outlets on Thanksgiving Day, making permanent what was initially a pandemic-related move for distributing single-day foot traffic over an extended weekend shopping event. In view of COVID-19 restrictions, retailers last year were forced to start the holiday promotions earlier so that crowds would not gather for last-minute deals…
Americans Splurge on Holiday Shopping, Retail Sales Beat Expectations
The fourth quarter started off with a healthy surge of retail sales, giving the economy a much-needed boost, as Americans eagerly started their holiday shopping early on to avoid empty retail shelves amidst supply chain bottlenecks and resulting shortages. The Commerce Department reported Tuesday that retail sales, a measure taken to calculate consumer spending at…
China’s Retail Sales Outpace Forecast, But Property Sector Overcasts Outlook
November 17, 2021
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China’s industrial production and retail sales climbed faster than forecast in October, according to official data. However, the Chinese regime’s new control measures against the Chinese Communist Party (CCP) virus pandemic and a weakening property sector have weighed down the economic outlook. According to China’s National Bureau of Statistics (NBS), retail sales increased by 4.9 percent…
UK Retail Sales Fall for 5th Consecutive Month
Shoppers continued to shun the high street with sales volumes falling for the fifth consecutive month—the longest continuous stretch on record, according to official statistics. The drop was due to a fall in sales volumes in non-food stores, with lighting and furniture businesses the hardest hit, the Office for National Statistics (ONS) said. Sales volumes…
UK Retail Sales Drop for Fourth Month in a Row
UK retail sales dropped in August for the fourth consecutive month as grocery sales were impacted by more people returning to restaurants and pubs, according to official figures. The Office for National Statistics (ONS) said retail sales volumes dropped by 0.9 percent last month, following a 2.8 percent fall in July. However, retail sales volumes…
Retail Sales Post Surprise Gain, Led by Sharp Rise in Online Shopping
Americans spent at a brisk pace in August, defying economists’ expectations for a contraction in U.S. retail sales, though much of the spending was online as the spread of the Delta variant may have kept people from heading out to shop in greater numbers. Retail and food services sales rose 0.7 percent in August after…
Retail Sales Fall In July, Driven by Sharp Drop In Auto Buying
U.S. retail sales fell more than expected in July, dragged down chiefly by weak buying of automobiles as chip shortages continued to squeeze supplies. Retail and food services sales fell 1.1 percent in July, following a revised 0.7 percent gain in June and a 1.7 percent drop in May, according to an advance estimate from…
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