Holiday sales tick up as shoppers invest in their homes
December 27, 2020
NEW YORK (AP) — Retail sales increased a modest 3% during a longer holiday season this year, as homebound shoppers spent more on furnishing and food but less on clothing and jewelry, according to figures released Saturday by a firm that tracks all forms of payments.
The increase fell short of predictions from the National Retail Federation, the nation's largest retail trade group, which had expected sales to rise between 3.6% and 5.2% this year compared to 2019.
As expected, a surge in online shopping fueled much of spending. Online sales rose a record 49% year-over-year between Oct. 11...