The big gift box under the retail industry’s Christmas tree was full—of cash, according to early data.
U.S. retail sales were up this year 5.1% to more than $850 billion, according to Mastercard SpendingPulse, a report from the payment card vendor that looks at consumer purchases from December 1 through 24. It was the strongest performance in six years.
The National Retail Federation had projected that consumers on average had planned to spend $1,007 for decorations, candy, gifts, and other purchases for themselves.
