The holiday shopping season went better than expected, with retail sales up 4% compared to last year. This increase in retail sales during the holidays was mainly driven by cars, clothes, and electronics purchases among all consumers. Stores like Target, Abercrombie & Fitch, and Lululemon (who, of course, aim for young consumers) reported strong sales, benefiting from the high demand for clothing, toys, and athletic wear. Meanwhile, department stores like Macy’s and Kohl’s faced challenges, reporting low store traffic and coping with store closures. But, looking ahead, analysts see consumer spending in 2025 as unpredictable, with economic uncertainties, potential policy changes, and moderate growth projections in the U.S. all impacting spending. (NYT)
📊 YPulse data: 64% of 13-39-year-old holiday shoppers planned to shop in a physical store this past holiday season
