US Retail Sales Grew 8.5% This Holiday Season - Mastercard

Holiday retail sales, excluding autos, soared 8.5% year-over-year (YoY) in a period from November 01 to December 24, according to the latest Mastercard SpendingPulse report.

Digital sales surged 11% compared to last year. Data also showed that consumers are returning to stores - 8.1% YoY.

“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,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated.

“Consumers splurged throughout the season, with apparel and department stores experiencing strong growth as shoppers sought to put their best dressed foot forward.”

Retail sales were up +8.6%*YoY for the 75 days between October 11 and December 24. For the Thanksgiving weekend from November 26 to November 28, U.S. retail sales surged 14.1% YoY while in-store shopping recovered to 16.5% YoY. Digital sales gained 4.9% YoY.

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