Trump Effect Cash-Flow Pummels Retailers on ‘Super Saturday’
The US economy cannot be stopped.
Sure, there are plenty of arguments out there about Donald Trump’s first term as President, and the Democrats have done a heck of a job to redundantly bludgeon us with them, but there is one aspect of his presidency that truly cannot be disputed: The economy is a’rockin’ and a’rollin’ in 2019.
Trump, a businesses by nature, was seen as many as the type of hard-nosed negotiator that could restore America’s economic standing in the world. So far, he has seemingly done just that. American unemployment appears to be the lowest it has been since The Great Depression, and consumer confidence has been on a steady rise.
Now, amid this beaucoup bucks boom, Americans have crested yet another new peak.
Holiday shopping set records over the weekend, with Super Saturday sales reaching $34.4 billion, the biggest single day in U.S. retail history, according to Customer Growth Partners.
“Paced by the ‘Big Four’ mega-retailers — Walmart, Amazon, Costco and Target — Super Saturday was boosted by the best traffic our team has seen in years,” said Craig Johnson, president of the retail research firm.
Job growth and fatter wallets, along with stronger household finances, have put consumers in a buying mood this season, Johnson said. And more of them are shopping online. As retailers offer improved web platforms, online spending so far this season has accounted for 58% of sales growth from a year earlier, he said.
Super Saturday’s results topped Black Friday’s $31.2 billion in sales by 10%. The next biggest shopping days were Dec. 14, with $28.1 billion, and Cyber Monday, with $19.1 billion.
Much of this spending was done online, however, granting an air of relative calm over malls and shopping centers, where we once faced enormous and unruly crowds during the late holiday shopping period.
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