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Cheers! American retailers likely to record USD 26+ Bn revenue on SUPER SATURDAY

Retail consultancy Customer Growth Partners (CGP) has claimed that SUPER SATURDAY, the last Saturday before Christmas and the biggest shopping day of the US holiday season, is likely to bring in over US $ 26 billion in revenue, up from US $ 24.5 billion last year.

Even though Black Friday used to be America’s biggest single shopping day of the year, the final Saturday before Christmas took the title 5 years back, said Craig Johnson, President of CGP.

If the US shoppers spend an estimated US $ 26 billion on the Super Saturday then they’d beat the US $ 24 billion they had spent on the day after Thanksgiving.

For instance, traffic at JCPenney stores increased by 10 percent year-on-year from Black Friday through December 10, according to Orbital Insight, which analyses satellite imagery such as the number of cars in a retailer’s parking lot.

Moreover, traffic was 7 percent upper at Target stores and 5+ percent at Walmart during the period.

Also, it is being said that holiday spending in 2017 was down by about US $ 2.5 billion after a surge in gas prices. However, this year the slump in prices is probable to slacken approximately US $ 3 billion in spending, added Johnson.

Athleisure wear will continue to be the popular fashion segment at chains like Lululemon Athletica, Gap Inc.’s Athleta brand, Abercrombie & Fitch… Off-price clothing chains such as TJX, Ross Stores and Burlington Coat Factory will also make gains. Dick’s Sporting Goods , Bass Pro Shops and Modell’s Sporting Goods will also make profits, the report added.

Further, 44 percent of US adults will shop for holiday presents on Saturday, spending an average of US $ 173 in-store and online, up from the 38 percent last year, claimed International Council of Shopping Centers.

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