Holiday Spending Surpasses Forecast as Millennials Lead the Way
Sales during the period were helped by good weather across much of the country
and strength in the economy, including low unemployment and the rising stock market, the federation said.
Older millennials (ages 25 to 34) drove the five-day shopping spree, spending an average of $419.52.
“We are certainly encouraged that we are starting off from a period of strength,” Matthew Shay,
president of the National Retail Federation, said in a call on Tuesday with reporters.