# Unemployment be damned: Americans spent at a record pace over the holidays

- Link: https://www.widthness.com/unemployment-be-damned-americans-spent-at-a-record-pace-over-the-holidays/
- Published: 2021-01-03T09:30:33-06:00
- Author: Curated by Theresa Wysocki

Photo caption: Holiday shoppers make a last-minute trip to department stores in Midtown Manhattan Dec. 24, 2020. Getty Images. Article by Lisa Fickenscher. New York Post – December 30, 2020. Having nowhere to go and nothing to do is proving an unexpected but lucrative formula for retailers. Holiday spending rose by 6.8 percent to a record $756 billion in November and December, according to new research. Driving the demand, according to retail consulting firm Customer Growth Partners, was a surge in disposable income as consumers hunkered down at home and eschewed activities considered unsafe during a pandemic — including vacations, concerts and sporting events. “Spending has rotated from spending on services over to goods and this is a substantive shift,” said Craig Johnson, president of CGP, which distributed the findings on Wednesday to clients and media. […] Click here to view original web page at nypost.com Curated by Theresa Wysocki See Full Bio