{"id":134880,"date":"2020-12-16T18:38:52","date_gmt":"2020-12-16T15:38:52","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/us-retail-spending-slowed-in-november-as-covid-spooked-shoppers\/"},"modified":"2020-12-16T18:38:52","modified_gmt":"2020-12-16T15:38:52","slug":"us-retail-spending-slowed-in-november-as-covid-spooked-shoppers","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/us-retail-spending-slowed-in-november-as-covid-spooked-shoppers\/","title":{"rendered":"#US retail spending slowed in November as COVID spooked shoppers"},"content":{"rendered":"

“#US retail spending slowed in November as COVID spooked shoppers<\/strong>”
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US retail sales slumped in November \u2014 the second consecutive monthly decline \u2014 as the growing number of coronavirus cases spooked shoppers across the country.<\/p>\n

Retail sales dropped by 1.1 percent in November after slipping 0.1 percent in October, the Commerce Department said on Wednesday. The October figure was a revision from previous estimates, which had showed sales increasing.<\/p>\n

Despite the recent slowdown in spending, November\u2019s retail sales were still up 4.1 percent from the year-earlier month. That\u2019s also despite soaring unemployment, hiring freezes and slowing economic growth.<\/p>\n

The data includes car dealerships, restaurants and online spending with car sales and restaurants accounting for a bigger drag than usual as more shoppers stay put in their homes. <\/p>\n

\u201cAs COVID-19 cases have surged in the last few weeks, many retailers have felt the brunt of tighter restrictions, which have ultimately impacted sales,\u201d said Marwan Forzley, chief executive of payment technology<\/a> company, Veem.<\/p>\n

Previous reports of sales increases during the holidays have mostly focused on online spending, which has surged as more consumers shop online instead of in person at shopping centers and stores.<\/p>\n

Shoppers spent 14 percent less this year \u2014 or an average of $312 \u2014 during the five-day period from Thanksgiving to Cyber Monday \u2014 compared to last year, in part because they began purchasing earlier this year, according to the National Retail Federation.<\/p>\n

Credit card data shows that the slowdown in spending has continued after Thanksgiving as well.<\/p>\n

From Thanksgiving through the week of Dec. 11 credit and debit card spending declined by 4.1 percent compared to the same period a year ago, according to a Wall Street Journal report citing JPMorgan Chase & Co\u2019s tracker of 30 million cardholders.<\/p>\n

But not all retailers have suffered the same from this slowdown as spending at home-related and essential goods retailers including Home Depot, Costco, Walmart and Target have not sputtered.\u00a0\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#US retail spending slowed in November as COVID spooked shoppers” US retail sales slumped in November \u2014 the second consecutive monthly decline \u2014 as the growing number of coronavirus cases spooked shoppers across the country. Retail sales dropped by 1.1 percent in November after slipping 0.1 percent in October, the Commerce Department said on Wednesday….<\/p>\n","protected":false},"author":1,"featured_media":134881,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/12\/retail-sales-november.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[86526,80110,74694,5015],"class_list":["post-134880","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-12-16-20","tag-commerce-department","tag-consumer-spending","tag-retailers"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/134880","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=134880"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/134880\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/134881"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=134880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=134880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=134880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}