Americans Opened Their Wallets

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Retailers had a happy holiday. Holiday sales were up 8.5% from last year and 10.7% from 2019. Cha ching!

Despite the pandemic and economic uncertainty, consumers pulled out their wallets and bought their loved ones gifts. What did they buy? According to the Associated Press, “clothing rose 47%, jewelry 32%, electronics 16%. Online sales were up 11% from a year ago and 61% from 2019. Department stores registered a 21% increase over 2020.”

The National Retail Federation said that non-store sales like gasoline and restaurants will likely be up too.

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