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The early predictions were gloomy: The recession gripping the U.S. would make for a dismal holiday shopping season for retailers. And while many retailers certainly felt the effects of the economic downturn, holiday dollar sales in 2008 actually increased 5.8 percent, or $99.5 billion, across grocery and drug stores, mass merchandisers and convenience stores, according to Nielsen.
Categories that drove the highest sales spikes were musical instruments and accessories, with more than half of the purchases for the year made in the last eight weeks of 2008.
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