What we saw was a likely bifurcation of retailers this holiday season, with those catering to affluent consumers doing very well. The balance of retailers had to work harder for sales and do more discounting.
More Quotes from Wayne Best:
The key factors helping to buoy spending over the November-December gift-buying period were continued employment gains coupled with a steep reduction in gas prices.Wayne Best
Spending should remain strong in the days following the holidays as consumers look for post-holiday sales, and begin using their gift cards.
Wayne Best
The strong spending volume Visa is experiencing, and the trends we've seen leading up to Thanksgiving, bode well for merchants this holiday season.
Wayne Best
Spending data for December continues to show that consumers are shopping in good numbers as the holidays approach, and we expect the busiest days are still to come.
Wayne Best
Consumers continued to spend right up to Christmas. Considering the post-holiday sales over the next few weeks and consumers' eagerness to purchase items they may not have received during the holidays, we expect that spending in the final days of 2004 will continue to rise.
Wayne Best
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