This holiday season proved fruitful for retailers. Consumers spent almost $600 billion this holiday season. In fact, 2017 was the most profitable year for retailers since 2011. The year ended with holiday retail sales increasing by 4.9% compared to the same period last year.
Online shopping also increased by 18.1%. Overall consumer buying during the holiday period also set a record for the amount of dollars spent. Although traditional brick and mortar department stores have been losing revenues to online shopping stores for the past few years, this holiday season proved better for them.
Macy’s shares went up 33% from Thanksgiving. Kohl’s shares increased by 29%. Gap has increased 20%, and shares of Target climbed 15%. Even struggling retailer J.C. Penney managed a 3.4% gain during this holiday period. Solactive-ProShares Bricks and Mortar Retail Store Index measures traditional retailers that do most of their sales in stores. That index has also gone up by nearly 15%.
The biggest winner of the holiday season, however, was online retailer Amazon. Reps for the company said on Tuesday that Amazon topped its worldwide holiday sales record this year. In fact, more than 4 million people signed up to try Amazon Prime in one week.
Almost 1/3 of all holiday shoppers spent over $1,000.
The increased shopping stems from increased consumer confidence, and indicates that the economy is recovering from the impact of Obama and Bush economic policies.
“This is literally the best season since before the recession,” business owner Craig Johnson told CBS News. “When real income goes up, people have money in their pocket and they’re able to spend it.”
According to Johnson, who owns a retail analysis company, the increase in spending this year is the result of lower unemployment and a strong stock market.
“It started with a bang in the week leading up to Black Friday. Overall, this year was a big win for retail,” Mastercard’s Sarah Quinlan said in an interview with The Wall Street Journal.
Fewer Americans have been living paycheck-to-paycheck or funding their lifestyles with debt since Trump took office.
American now feel they can trust the economy. And that trust showed up during the holidays after unemployment had reached a 17-year low in the fall.
Another boost to the economy has come from the stock market performing better than expected, and hitting one record high after the next. These factors combined caused consumer confidence to skyrocket to a 17-year high in November.
Under Obama, holiday spending was minimized. In 2014, Black Friday sales had decreased from the previous year, and indicated that the overall season would be plagued with low revenues. And by the end of 2014, retailers had actually lost quite a bit of revenue.
Obama’s Administration was responsible for increased taxes, lower investments from businesses, and stagnant economic growth. This scenario is typical in cities and states run primarily by Democrats.
Furthermore, Obama is the only U.S. president in history to not achieve even a single year with 3 percent GDP growth. During the Obama years, the number of Americans below the poverty line increased by over 3.5 percent. The real median household income decreased by 2.3 percent.
Under Obama’s economic policies, the number of Americans receiving food stamps and other forms of welfare increased by almost 40%. And American home ownership, one of the largest indicators of the health of the economy, declined tremendously.
Trump’s economic policies have proven beneficial for the country. According to The Hill:
“The Trump administration’s regulatory rollback has ignited business and consumer optimism, driving economic growth at pace few anticipated. Having passed tax reform, Republicans are looking to pick up the pace by further encouraging businesses investment, cutting taxes for working and middle-class families, and eliminating the perverse incentives that drive our businesses, jobs and dollars to other nations.
While Democrats are mired in their disingenuous mantra on tax breaks for the rich, Republicans have focused their tax reform efforts on exactly the right goal: economic growth that benefits everyone.”
The tax cuts were in fact just part of an economic overhaul. Trump has already addressed how expensive lax immigration is for the American tax payer.
He’s already attacked DACA, welfare, and tax returns for illegal aliens. And now, legal immigrants on welfare have drawn the president’s attention.
And as of a few days ago, Trump announced ending over $200 billion in financial aid to the invasive and useless United Nations.
In under a year, Trump has eradicated a number of Obama-era policies that adversely affected the economy.
When Trump said he was going to put America first, he clearly meant it. Obama ran his campaign and his administration under the guise of change. But all he changed was the once great United States into a third world cesspool.
Clearly, Trump is the change Americans needed.