Holiday sales increased 5% over last year, according to Mastercard SpendingPulse report, marking the largest year-over-year increase since 2011. Christian Magoon, CEO of Amplify, and Melissa Gonzalez, CEO and Founder of Lion'esque Group, join The Long and The Short to recap retail in 2017 and make predictions for 2018.
According to the Mastercard survey, aggressive promotions early in the holiday season were the main driver for the uptick in retail sales. As for the specific categories that saw growth: sales of electronics and appliances increased by 7.5%, and home furnishings and improvement sales jumped 5%. However, women's apparel was negative over the entire year.
Magoon believes mobile commerce is growing by leaps and bounds, which is a direct result of retail sales going up. This is a white-hot growth opportunity for retailers, as smart devices, faster internet, and more trusted mobile payment technology push mobile sales above desktop or foot-traffic. Gonzalez says that retail stores need to start offering perks to their shoppers to get them in the store. Additionally, aggressive discounts were a main driver this year.
Thanksgiving is all about spending time with family and friends, but it also comes with social obligations. Dr. Sheree Sekou, principal consultant at Sheree Sekou Consulting, joined Cheddar News to discuss how to navigate holiday etiquette and answered questions from Cheddar News staff.
As Americans prepare for their family feasts Thursday, a new survey named some of the most popular dishes on the table. Plus, Vogue released some of the top TV episodes to watch with family after dinner.
November is when Haiti commemorates becoming the first independent Black republic in the world. And 120 years later, the country's development continues. Haitian-American actress and humanitarian Garcelle Beauvais and Alex Cantave, senior program officer for Haiti at the W.K. Kellogg Foundation spoke with Cheddar News about their partnership to help the country's Pockets of Hope campaign, which looks to generate $90 million for education, health, and economic development initiatives in Haiti over the next three years.
