The deep discounts and promotions offered by retailers this holiday season were a primary factor in the rise in overall spending observed, Reuters reported on December 27.
As a result of the winning strategy, retail insiders told the report that post-holiday discounts are likely to remain steep.
“We are not close to being done with the shopping season, there is a lot of innings left to play in the game,” Charles O’Shea, senior analyst at Moody’s Investors Service, told the media outlet.
O’Shea suggested that apparel discounts were likely to be particularly prevalent, due in part to their lower-than-expected sales during the traditional holiday season.
For more on holiday spending, read our summary of MasterCard’s holiday sales growth report here.
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