For the first time ever, U.S. holiday spending hit a record of $126 billion in online sales. Through a backlash to what experts call “frugality fatigue”, consumers are entered the holiday season more willing to pull out their wallets, to the benefit of payment processors such as American Express Company (NYSE: AXP), Discover Financial Services (NYSE: DFS), Mastercard Incorporated (NYSE: MA), Visa Inc. (NYSE: V), and NetCents Technology Inc. (CSE: NC) (OTC: NTTCF).
According to an annual holiday shopping survey conducted by Discover, 25% of consumers are planning to spend more this holiday season than last year. A big boost is coming from both Millennials and Gen-Z, which anticipate bumping up their spending 35% and 33% respectively.
How consumers spend on the season may be different this holiday season than others, …View the full post at: U.S. hits a record in online sales, spending $126 Billion over the last holiday season …