February 21, 2018

Buying Surge Bigger Than Expected in November

november-salesShopperTrak, a retail research firm, is raising its holiday spending forecast for the second time in weeks. More data shows a bigger-than-expected surge in buying in November that will even out a disappointing start to December.

ShopperTrak said Wednesday that it now expects holiday sales to rise 4 percent over last year. This is up from a previous projection of 3.2 percent made in mid-November. The original estimate was for a 2.9 percent increase.

They also stated that November's revenue rose 5.8 percent compared with a year ago. Many stores successfully pulled in shoppers with discounts and early sales. ShopperTrak was expecting 3.7 percent.