LIVE MARKETS-Will expensive flights send holiday dollars to the mall?
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WILL EXPENSIVE FLIGHTS SEND HOLIDAY DOLLARS TO THE MALL?
Elevated airfares could weigh on holiday travel this year, according to Bank of America. But that could boost retail sales, if people who skip or cut back on trips put that money into shopping instead.
The question comes ahead of a holiday season that will be crucial for retailers, as spending during the season runs well above other times of the year.
The bank’s aggregated credit and debit card data show retail spending excluding autos ran about 18% above its annual average in the five weeks ending December 24 in each year from 2023 to 2025. Spending peaked at roughly 30% above average in the final week of that stretch every year.
The next-biggest seasonal bump came around July 4, when spending was only about 5% above average.
(Karen Brettell)
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