Jolly good news for retail sales

IT WAS A very merry holiday shopping season.

Retail sales across the country were up by 4.9% this holiday season compared with the same period last year, the biggest spike since 2011, according to a sales report published Tuesday by Mastercard SpendingPulse.

“It was a very solid season,” said Sarah Quinlan, senior vice president of Mastercard’s Market Insights, which tracks online and in-store spending.

Online sales were particularly jolly, up by 18.1% compared with the same period last year from Nov. 1 to Dec. 24, according to the report. The big boost online was largely tied to the purchase of big-ticket electronic items like phones, computers and televisions.

Economists say the increase in sales is due to three factors: low unemployment, moderate wage boosts, and consumer confidence at an all-time high.