Good News For Retailers This Holiday Season: Americans Are Spending On Big-Ticket Items
Americans spent a record $2 billion online on Labor Day, making it one of the biggest online shopping days of the year and giving new hope to retailers ahead of the closely watched holiday season. Online spending on Labor Day grew 23 percent to $2.08 billion, from $1.69 billion a year earlier, as shoppers bought big-ticket items like electronics, appliances, mattresses and grills, according to data from Adobe Analytics being released Friday. The data paint a picture of growing consumer confidence, as a low unemployment rate and signs of wage growth help boost sales for some of the country’s largest retailers. Walmart, Nordstrom and Home Depot have all posted strong quarterly sales in recent weeks, and economists say they expect that momentum to continue through the end of the year. Read more at The Washington Post.
