U.S. consumers set new records this holiday shopping season, with job growth, rising incomes and a strong household finances giving consumers more willingness to buy in the quarter. “Super Saturday” is led by the “big four” retailers (Wal-Mart, Amazon, Good market and Target), according to Customer Growth Partners, a consultancy and research firm. Retail sales set a record for the highest one-day trading volume in U.S. retail history, at $34.4 billion, 10 percent higher than the $31.2 billion on Black Friday.
“Super Saturday” refers to the Saturday before Christmas, and this year is December 21. In recent years, the U.S. “Super Saturday” shopper traffic has increased significantly. Sales on Super Saturday are approaching Black Friday, the Friday after Thanksgiving, as retailers maintain steep discounts during the holiday season.
Craig Johnson, president of Growth Customer Partners, says more people are shopping online. Online sales accounted for 58% of sales growth so far this quarter.
Mr Johnson also said that while traffic at most shopping centres had fallen, the conversion rate (the percentage of people who went to the mall and shopped) had risen. Even struggling department stores “had the best weekend of the season.”
But he said the question now was whether the current momentum would continue into 2020 and beyond.