The Strategist

US retail sales up 8.5% over the festive period

12/30/2021 - 04:55

Between November 1 and December 24, retail sales in the United States increased by 8.5 percent over the same period in 2020 and by 10.7 percent over the same period in 2019. The Wall Street Journal reported this, citing statistics from Mastercard Spending Pulse, which measures Mastercard card sales.

Jorge Láscar
Jorge Láscar
Experts estimate that this is the largest sales rise in this time period in the recent 17 years. Consumer purchases in traditional stores, online shopping, and restaurant expenditure were all factored into the findings.

According to the Mastercard Spending Pulse survey, shoppers returned to traditional stores, with sales climbing 8.1 percent in 2020 and 2.4 percent in 2019. Consumers were especially enthusiastic about purchasing apparel at these stores, with sales jumping 47 percent from 2020.

In comparison to 2020, jewelry sales increased by 32% and electronics sales grew by 16%. Online sales increased by 11 percent in 2020 and by 61 percent in 2019. Even rising pricing over the course of the year did not deter buyers. This, according to Mastercard experts, is due to consumers' ability to save throughout the pandemic.

Given the projected supply issues, the pre-holiday sales season began early, which helped to sales increase. Furthermore, FedEx, UPS, and the United States Postal Service all increased the number of sorting centers ahead of schedule and delivered parcels on time in 91.2 percent, 97.1 percent, and 96.9% of cases, respectively.