Holiday Sales Rise 7.9% Fueled by Low Gas Prices, MasterCard Says - Video - TheStreet

Holiday Sales Rise 7.9% Fueled by Low Gas Prices, MasterCard Says

It was a merry holiday season for retailers and restaurants.
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It was a merry holiday season for retailers. U.S. retail sales, excluding autos and gasoline, rose 7.9 percent year-over-year from Black Friday to Christmas Eve, according to data released Monday from MasterCard Advisors. ‘It absolutely was a happy holiday for the retailers,’ said Sarah Quinlan, sr. vice president of market insights at MasterCard Advisors. ‘Apparel did well, furniture did very well and a big winner that’s received a lot of press is ecommerce, which saw a 20 percent rise in sales.’ Consumers also spent more money on experiences, such as restaurants, which saw double-digit growth on Christmas day alone. One loser over the holiday season was electronics, a category in which spending slumped year-over-year. Quinlan speaks with TheStreet’s Scott Gamm in New York.