Azernews.Az

By Bloomberg

U.S. holiday sales grew at their fastest pace in almost a decade, lifted by a strengthening economy and consumers spreading out their purchases over a longer season, according to ShopperTrak.

Holiday spending over November and December jumped 4.6 percent versus the same period of last year, beating ShopperTrak’s prediction of 3.8 percent, the research firm said today in a report. That was the best performance since 2005, before the last recession, when sales gained 5.2 percent.

Retailers are relying less on major sales events such as Black Friday and coaxing consumers into buying gifts more steadily over a two-month stretch. Shoppers also had more money to spend this season, thanks to lower gas prices and an improving job market.

“The outcome punctuates the declining importance of a single day within the season,” Chicago-based ShopperTrak said in the report. “This 10-year trend speaks to retailers’ success in elongating the shopping season, as well as the consumers’ increased willingness to shop early.”

Black Friday, the day after Thanksgiving, had disappointed retailers in November, raising concerns that this holiday season wouldn’t meet initial targets. A survey backed by the National Retail Federation estimated that spending tumbled 11 percent on Black Friday.

The best single sales day of the season ended up being Super Saturday, which comes on the weekend before Christmas, ShopperTrak said. Black Friday was No. 2.

“While Black Friday and Super Saturday still hold the top spots, consumers seem less attracted to the value-based pricing associated with the two days and are responding more to the sales and promotions available throughout the season,” the firm said.