The U.S.' retail sales during the holiday season in the November-December period last year hit an all-time high, according to data compiled by Anadolu Agency on Wednesday.
Retail sales during the holiday season, between Nov. 1 and Dec. 31, increased 5.5 percent to a record level of $691.9 billion in 2017, according to the U.S.' retail trade association National Retail Federation (NRF).
While that amount was $655.8 billion during the same period in 2016, the NRF expected that retail sales would total $680 billion in 2017 during that period.
In addition, the 5.5 percent annual increase in total retail sales in 2017 surpassed the highest year-over-year percentage change in this decade.
It was the holiday season of 2010 that total retail sales had seen a 5.2 percent jump from the previous year, according to the NRF.
Holiday sales season begins on Nov. 1 in the U.S. every year, but it peaks towards Thanksgiving Day, which is celebrated on the fourth Thursday in November.
The day after Thanksgiving is Black Friday when retailers open early and offer promotions to customers across the country.
That day is followed by Small Business Saturday when communities support their local stores; and two days after is Cyber Monday, in which consumers are encouraged to shop online and can avail of promotions on the internet.
Online sales increased 11.5 percent to $138.4 billion during the holiday season of 2017, according to the NRF.
While that amount was $124.1 billion in the November-December of 2016, the NRF estimated that online sales would be around $140 billion for the same period in 2017.
The fall in the unemployment rate to its lowest level in 17 years, growing wages, and increasing consumer confidence is the U.S. are some of the major factors attributed to the record rise in retail sales during the holiday season of 2017, according to experts.
- Cyber Monday record
Online sales on Cyber Monday last year also broke records.
During Cyber Monday in 2017, online sales increased 16.8 percent from $5.64 billion in 2016 to reach an all-time highest level of $6.59 billion, according to the American software giant Adobe Digital Insights (ADI) data.
Last year, "Overall web traffic to retail sites increased by 11.9 percent on Cyber Monday," ADI said.
Consumers' preferences to use mobile devices for their online purchases also showed a year-over-year increase on Cyber Monday.
"Mobiles set a new record representing 47.4 percent of visits (39.9 percent smartphones, 7.6 percent tablets)," ADI said.
"Smartphone traffic specifically grew 22.2 percent year-over-year while revenue coming from smartphones ($1.59 billion) saw 39.2 percent growth year-over-year, a new all-time high," it added.
Online sales on Thanksgiving Day and Black Friday last year also increased from the previous year
In 2017, Thanksgiving Day online sales rose 18.3 percent from the previous year and reached $2.87 billion. Black Friday online sales last year jumped 16.9 percent from the previous year and rose to $5.03 billion, ADI said.
In addition, the five-day period from Thanksgiving Day through Cyber Monday last year saw online sales totaling $19.62 billion, according to ADI data.
From Nov. 1 until the day before Thanksgiving Day, online sales surpassed $1 billion in the U.S. per day, ADI said.
By Ovunc Kutlu in New York
Anadolu Agency
energy@aa.com.tr