San Francisco-- This year’s holiday shopping season appears to be one of the worst in history. Despite retailers’ attempting to lure shoppers with deep discounts, failed to save the final week of holiday shopping was pretty much a bust, as sales dipped throughout most categories on decreasing consumer spending, according to a report from a division of MasterCard Inc.
The cause: A depressing economy combined with poor weather, according to MasterCard’s SpendingPulse 2008 Holiday Wrap-Up Report.
Online holiday sales declined 2.3% from Nov. 1 to Dec. 24, according to the SpendingPulse report from MasterCard Advisors LLC, a subsidiary of payment card company MasterCard Worldwide, says: “It is probably one of the most difficult economic environment combined with unfavorable weather during the last week of shopping made 2008 one of the most challenging holiday shopping seasons in decades,” says Michael McNamara, vice president of research and analysis for SpendingPulse.
