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US retail sales up 8.5 percent this holiday season

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Online sales were up 11 percent and in-store sales up 8.1 percent between November 1 and Christmas Eve, according to the Mastercard SpendingPulse study."Consumers splurged throughout the season," said Steve Sadove, senior advisor for Mastercard and former CEO of Saks Incorporated.Americans flocked to clothing, which experienced a 47.3 percent increase in sales year-to-year as well as jewelry, with a 32 percent increase.Department store sales were up 21.2 percent, while electronic products experienced 16.2 percent growth.The study also indicated that US households made their purchases earlier than in years past, including to lock in "guaranteed by Christmas" delivery….



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