Numbers Are In: 2018 BEST Holiday Shopping Season in a Decade
Just like I declared Donald Trump would win the presidency, I called this one too.
I said on my radio show that the shopping season of 2017 would be even better than the year before, when Trump became President-elect.
As The Chicago Tribune verified, I’m psychic!
Finally, some good news for the nation’s retailers: Americans spent more than expected this holiday season, fueling the strongest growth in holiday retail sales since the end of the Great Recession.
Holiday sales rose to $691.9 billion in November and December, marking a 5.5 percent increase from the year before, according to the National Retail Federation. The lobbying group had forecast holiday spending growth of 3.6 percent to 4 percent.
“Whether they shopped in-store, online or on their phones, consumers were in the mood to spend,” Matthew Shay, president and chief executive of the NRF, said in a statement.
Separately on Friday, the U.S. Commerce Department said retail sales grew 0.4 percent in December and 0.9 percent in November. Taken together, analysts said, that represented the best holiday spending performance since 2005.
Keep in mind, the 2016 holiday season put the Obama years to shame. The election of Trump had America giddy! I talked about it on my radio show. I couldn’t contain myself.
Last year the National Retail Federation reported records sales.
Holiday retail sales during November and December increased 4 percent over 2015 to $658.3 billion, as a strengthening economy encouraged consumers to spend even more freely than expected, the National Retail Federation said today. The number includes $122.9 billion in non-store sales, which were up 12.6 percent over the year before.
The numbers exceeded NRF’s forecast of $655.8 billion, which would have been an increase of 3.6 percent. NRF had forecast that online sales would grow between 7 and 10 percent to as much as $117 billion. The numbers exclude automobiles, gasoline stations and restaurants.
That same year Fortune reported record online sales:
Americans are increasingly selecting the latter option. Between Nov. 1 and Dec. 31, online sales hit $91.7 billion, up 11% from $82.5 billion a year ago, according to a report by Adobe Insights.
The 2016 holiday season also broke a major ecommerce record: Cyber Monday became the biggest online shopping day in U.S. history, generating $3.45 billion in online sales, up 12% from 2015. Black Friday wasn’t far behind, with sales jumping nearly 22% year-over-year to $3.34 billion.
In short, the election of Trump electrified the economy, and not based on the momentum of the feckless Barack Obama.
The people who move the economy, Conservatives were exuberant; optimistic. So they shopped. And they did it again this year, setting new records.
The Chicago Tribune article continues,
“The basic story line here is that holiday sales were extremely strong,” said Chris Christopher, executive director of research firm IHS Markit. “Growth more than surpassed expectations, even though we’re seeing a structural shift in the industry as shoppers move online.”
Economists said a number of factors, including a growing economy and booming stock market, helped spur spending growth. The nation’s unemployment rate is at a 17-year low, and wages are inching up, giving consumers enough confidence to fill their carts, whether in stores or online. Online spending grew 11.5 percent during the holidays to $138.4 billion.
Holiday sales grew in every retail sector except sporting goods, according to the National Retail Federation. Sales of building materials and supplies grew 8.1 percent from 2016, while furniture rose 7.5 percent and electronics grew 6.7 percent. Sales of clothing and accessories were up 2.7 percent.
“The market conditions were right, retailers were doing what they know how to do, and it all worked,” Jack Kleinhenz, the NRF’s chief economist, said in a statement. “The economy was in great shape going into the holiday season, and retailers had the right mix of inventory, pricing and staffing to help them connect with shoppers very efficiently.”
Nice summary of President Trump’s first year.
Let’s see how much media coverage the president gets on this news. And while you watch for that, ponder what the media would report if Obama had these numbers.
Next, wait until the announcement of the GDP numbers, estimates being we may hit 4 percent. Undoubtedly we will have 3 quarters in a row of GDP over 3 percent. But if we hit 4, as President Trump and analysts predict, you can bet the Democrats will predict more “doom and gloom”.
One would think the Democrats would tire of fighting against a president with this type of performance. But they won’t.
The good news is Trump won’t let up. He will give them 5 percent GDP and a record-setting economy, just to rub his presidency in their smug faces. And Republicans will win elections, electing new blood each time.
At some point, Leftists will be forced to see the light. Right before the sledge-hammer to the face puts their lights out.