Holiday Sales Expected to Break Pre-Recession Record
Photo: Jose Luis Pelaez
I brake for gifts: 2011 holiday sales in the U.S. are expected to break pre-recession records.
They said if we just kept up the shopping, the recession might break. Well, we’ve certainly done our part—and, apparently, we’re not the only ones.
Women’s Wear Daily reports that U.S. holiday revenues are expected to hit $252.3 billion for the 2011 season, which would break the historic high of $251.7 billion reached in 2007.
Categories that performed well this year include luxury and high-end retailers, and e-commerce, which saw a reported 15.6 percent increase through Christmas day, according to the International Council of Shopping Centers.
Menswear, boots and other footwear, as well as accessories also got a boost during the 2011 season. (Um, what about diamonds?)
When it came to specific department store sales, Macy’s and Saks led the pack, boasting estimated 5.2 percent and 5 percent increases, respectively.
Wait till they tally the "damage" we did during those year-end sales.
Stay tuned for the spending stats.
