Christmas Spending Blesses Retailers

Joe Scudder
Written by Joe Scudder

One year into the Trump Presidency and Christmas spending reaches record highs.

Christmas spending was high this year. In fact, according to Mastercard’s calculations it was higher than ever before. Whether this was empowered mainly by psychological factors like consumer confidence or objective economic factors like increased employment, people are buying more this year.

Donald Trump should get some credit for this. His deregulation actions and his landmark tax reduction victory have boosted the economy and the morale of Americans.

Reuters reports, “U.S. department store stocks jump on holiday spending record.

Shares of U.S. department stores jumped on Tuesday as Mastercard Inc said shoppers spent over $800 billion during the season, more than ever before, boosted by growing consumer confidence, rising employment and early discounts.

Sarah Quinlan, head of market insights for Mastercard Advisors, disclosed the figure after the payments processor’s analytics arm published its SpendingPulse retail report.

The report said holiday sales in stores and online between Nov 1 and Dec 24 rose 4.9 percent, the fastest year-on-year pace of increase since 2011. Mastercard, which tracks spending by combining sales activity in its payments network with estimates of cash and other payment forms, excluded automobile sales from its figures.

Read the entire Reuters story.

The views expressed in this opinion article are solely those of their author and are not necessarily either shared or endorsed by EagleRising.com


About the author

Joe Scudder

Joe Scudder

Joe Scudder is the "nom de plume" (or "nom de guerre") of a fifty-ish-year-old writer and stroke survivor. He lives in St Louis with his wife and still-at-home children. He has been a freelance writer and occasional political activist since the early nineties. He describes his politics as Tolkienesque.

Join the conversation!

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.

Don't Miss Out!!

Get your daily dose of Eagle Rising by entering your email address below.

Our Privacy Policy has been updated to support the latest regulations.Click to learn more.×
STAY IN THE LOOP
Don't miss a thing. Sign up for our email newsletter to become an insider.

Send this to a friend