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Dec 26 - U.S. retail sales rose 3.8% between Nov. 1 and Dec. 24, as intense promotion to drum up sales in what was expected to be a highly competitive holiday season for retailers prompted last-minute shopping among consumers.
"The holiday shopping season revealed a consumer who is willing and able to spend but driven by a search for value as can be seen by concentrated e-commerce spending during the biggest promotional periods," said Michelle Meyer, chief economist at Mastercard Economics Institute. Walmart and Amazon.com saw record-breaking sales on Black Friday and Cyber Monday, spending data earlier this month showed. In contrast, Target and Best Buy , opens new tab struggled to drive sales.
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