National

Holiday Sales Rose 3 Per Cent Below 3.7 Per Cent Forecast

Darpan News Desk The Canadian Press, 15 Jan, 2016 12:43 PM

NEW YORK — Holiday shoppers flocked online during the critical holiday shopping season, but overall sales in November and December were disappointing.

Sales rose 3 per cent to about $626.14 billion, according to The National Retail Federation. That's below the forecast for a 3.7 per cent gain the group had expected. The shortfall came even as stores aggressively pushed discounts throughout the season.

The disappointing total sales figure underscores challenges for retailers ahead as shoppers continue to shift away from physical stores and research and buy online.

Indeed, online sales, which are included in the figure, rose 9 per cent to $105 billion. That's higher than the group's original forecast of 6 per cent to 8 per cent growth

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