From Fortune:



Holiday sales have been strong in 2023, despite increased prices. The 3.1% increase from the beginning of November through Christmas Eve is less than the 7.6% the year before, but reflects typical holiday consumer behavior. Sales growth was a bit lower than projected, but holiday sales still rose, indicating that Americans are spending in a deliberate manner.

Despite the fact that jewelry and electronics sales dropped slightly, clothing sales increased 2.4% and online sales jumped 6.3%. Workers struggling to make ends meet may also affect future sales, but the fact remains that consumers’ willingness to spend this holiday season is a positive sign for the U.S. economy overall. This latest report gives confidence to retailers who have faced a challenging past year.



Read more: Consumers turned out for Christmas and Boxing Day sales, but January may be slow