CE Sales Down Over Holidays
Sales dropped this holiday season by 4 percent overall from the same time last year, and electronics and appliances were among the biggest losers. That's according to data released Christmas Day by SpendingPulse, a division of MasterCard Advisors.
According to the survey, combined sales of electronics and appliances dropped 27 percent over last year, with items over $1,000 dropping the most. The luxury market, in general, was also hard-hit; e-commerce sales dropped 2.3 percent overall.
SpendingPulse's vice president of research and analysis, Michael McNamara, called this year "one of the most challenging holiday seasons on record," in an interview with Bloomberg News.