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Express News | Retail sales during the holiday shopping season in the USA exceeded expectations, but retailer profits may be under pressure due to price reductions and promotions.
Retail sales during the holiday season in the USA increased by nearly 4% year-on-year, accelerating growth, with promotions clearly stimulating Consumer spending.
This year's retail sales during the holiday season in the USA increased by 3.8% year-on-year, while the growth rate for 2023 was 3.1%. The last five days of this year's holiday season accounted for 10% of the overall holiday consumption. The holiday shopping season shows that American consumers are willing and able to spend, but the driving force is the pursuit of value, which can be seen in the concentrated CNI Online Consumption Index during major promotional events.
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Shares of Retail Stocks Are Trading Higher in Possible Reaction to Mastercard SpendingPulse Data, Which Showed US Retail Sales Grew 3.8% in the Holiday Season.
Holiday Shoppers Increased Spending by 3.8% Despite Higher Prices
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Institutions: Target increased advertising spending during the holiday season, but its effect on boosting sales was minimal.
Gelonghui, December 25 | In the most competitive holiday season, major retailers in the USA, Target and Walmart, have increased their advertising spending to attract consumers on the Short Video app TikTok and streaming platforms. According to the market intelligence company Sensor Tower, which tracks online advertising spending, from October to mid-December, Target's online advertising spending increased by 8% compared to the same period last year, with a 70% increase in spending on TikTok to attract younger consumers. Meanwhile, Walmart increased its online advertising spending by 30% during the same period, on TikTok.
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