for some goods, as shoppers took advantage of discounts and snapped up items such as televisions, home fitness equipment and toys.
According to surveys from the National Retail Federation, spending hit a record high of $730.2 billion in November and December, up 8% from the same period in 2019. Many shoppers spent their holiday money on big-ticket items such as televisions, appliances, and electronics. Home fitness equipment, toys, and video games were also top sellers, while online sales surged as many shoppers opted to avoid shopping in brick-and-mortar stores due to the pandemic. Even with financial constraints, shoppers still found ways to celebrate the holidays as they prioritized the experience with family and friends.
