Sales during the holiday shopping season rose 5.1 percent, to over $850 billion, in 2018, the strongest in the past six years, according to a Mastercard report, as shoppers were encouraged by a robust economy and early discounts.
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The data includes in-store and online sales between Nov. 1 and Dec. 24. The National Retail Federation had forecast US holiday retail sales to rise between 4.3 percent and 4.8 percent in November and December.
“From shopping aisles to online carts, consumer confidence translated into holiday cheer for retail,” said Steve Sadove, senior adviser for Mastercard.
Near full employment and rising wages have boosted consumer spending, which in October hit its highest in nearly two decades.
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