Holiday High Lows: Jay-Z to the Retail Rescue!


jayz-xmas

• Hoping to exchange an unwanted Christmas gift but hate dealing with cranky employees and poorly-written return rules? Some retailers including Macy’s, Best Buy, and Toys R Us are changing policies after years of consumer complaints. (WSJ)

• Rapper Jay-Z single-handedly helped boost holiday shopping numbers this season: he purchased $350,000 worth of Hermès on Christmas Eve. (NY Post)

• Thanks to free shipping and Internet-only deals, online revenue increased 15.4%. In fact, shoppers spent a staggering $5.5 billion in e-purchases. (WSJ, stylelist)

• Overall sales – a combination of online-based and in-store – reached $521 billion, a large increase from 2009′s $208 billion. Popular gifts included Uggs, jewelry and clothing. (WWD)

• But consumers may be disappointed by the lack of blowout sales, post-holiday, due to better-than-estimated numbers this past quarter. (LA Times)

• And lastly, the weekend’s massive blizzard affected East Coast in-store traffic and put a damper on crucial after-Christmas sales. (CNN Money)