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US holiday retail sales grew 8.5% this year

In the holiday season, this year retail sales excluding automotive increased 8.5 percent year-over-year, running from November 1 through December 24.

US holiday retail sales grew 8.5% this year
Figure: This holiday season, e-commerce made up 20.9 percent of total retail sales, up from 20.6 percent in 2020 and 14.6 percent in 2019.

According to a recent report by Mastercard SpendingPulse, online sales grew 11 percent compared to the same period last year.

Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment.

Besides that, findings from Mastercard SpendingPulse underscore the strength of the holiday shopper across channels, with consumers returning to stores (8.1 percent YOY), and e-commerce continuing to expand, up 11 percent compared to 2020.

Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks Incorporated said, “Shoppers were eager to secure their gifts ahead of the retail rush, with conversations surrounding supply chain and labor supply issues sending consumers online and to stores in droves.”

Consumers made preparation throughout the season, with apparel and department stores experiencing strong growth as shoppers sought to put their best-dressed foot forward, he added.

By continuing a key trend from 2020, as retailers offered special promotions early and then again later in the season as shoppers raced to secure ‘guaranteed by Christmas’ shipping offers, US consumers shopped earlier than in years past.

Looking at Mastercard’s expanded holiday season, total retail sales were up 8.6 percent YOY for the 75 days between October 11 and December 24.

On the other side, Black Friday marked the top spending day of the 2021 holiday season yet again.

Actually, this holiday season, e-commerce made up 20.9 percent of total retail sales, up from 20.6 percent in 2020 and 14.6 percent in 2019.

Also, the channel continues to experience elevated growth as consumers enjoy the ease of holiday browsing and buying in the comfort of their own homes.

 

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