Reporters are now writing that WM Christmas sales were "healthy" in 2004, since they've finally realized what Wal-Mart counted on all along:
The last-minute surge in sales was helped by the shopping spree with the use of gift cards that make up 8% of the total sales this year and can be booked by retailers only after they are redeemed. The holiday period sales that account for 23% of retailers� revenue for the year showed solid results. A drop in oil prices as well as other reassuring macroeconomic data drove consumers into stores.Earlier analysts issued less optimistic forecasts. MasterCard Advisors, a consulting unit of MasterCard International, projected an increase in holiday consumer spending of 8.1% compared to last year, while the National Retail Federation projected a 4.5% increase. The difference in numbers is explained by the fact that MasterCard Advisors includes in this calculations both online sales and sales of gift cards, while NRF only accounts for only a part of online shopping and excludes gift cards.
Posted by Kevin on January, 5 2005 at 11:34 AM
