Retailers Feel Shoppers’ Christmas Cheer: Americans of all income levels, feeling flush, boosted their holiday spending

Winning!

From the Wall St. Journal:

Retailers are enjoying some extra Christmas cheer. Fueled by high consumer confidence and a robust job market, U.S. retail sales in the holiday period rose at their best pace since 2011, according to Mastercard SpendingPulse, which tracks both online and in-store spending. 

Sales, excluding automobiles, rose 4.9% from Nov. 1 through Christmas Eve, compared with a 3.7% gain in the same period last year, according to the Mastercard Inc. MA 0.21% unit, which tracks all forms of payment. E-commerce continued to drive the gains, rising 18.1%. 

“It started with a bang in the week leading up to Black Friday,” said Sarah Quinlan, a senior vice president of marketing insights at Mastercard. 

She added that retailers benefited this year from Christmas Day falling on a Monday, giving shoppers a full weekend to scoop up last-minute purchases. Dec. 23 ranked next to Black Friday in terms of spending, according to Mastercard. 

“Overall, this year was a big win for retail,” Ms. Quinlan said.