Post by max headroomPost by GronkPost by max headroomPost by Gronkhttps://apnews.com/article/coronavirus-pandemic-lifestyle-health-business-holidays-05a3bc6aff753ffd37cab20de1d7b066
Holiday sales rose at the fastest pace in 17 years, even as shoppers
grappled with higher prices, product shortages and a raging new COVID-19
variant in the last few weeks of the season, according to one spending
measure.
Mastercard SpendingPulse, which tracks all kinds of payments including cash
and debit cards, reported Sunday that holiday sales had risen 8.5% from a
year earlier. Mastercard SpendingPulse had expected an 8.8% increase.
That's what people do in the face of rising inflation: spend it now while it
still has some purchasing power.
Then they would have been doing before now.
You think they haven't been?
The projection was for an 8.8% rise and it came in at 8.5! Inflation not
a factor.
<https://investor.mastercard.com/investor-news/investor-news-details/2021/Mastercard-SpendingPulse-U.S.-Retail-Sales-Grew-8.5-This-Holiday-Season/default.aspx>
It’s been a resurgent season for retailers as consumers stocked their
carts with
gifts and gadgets. According to Mastercard SpendingPulseTM, holiday retail
sales
excluding automotive increased 8.5% year-over-year this holiday season,
running
from November 1 through December 24. Notably, online sales grew 11.0%
compared to the same period last year, the preliminary insights show.
Mastercard
SpendingPulse measures in-store and online retail sales across all forms
of payment.
“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.”
Findings from Mastercard SpendingPulse underscore the strength of the holiday
shopper across channels, with consumers returning to stores (+8.1% YOY), and
e-commerce continuing to expand, up 11.0% compared to 2020. Additional key
findings include:
* Consumers shopped early: Continuing a key trend from 2020, U.S.
consumers shopped earlier than in years past, as retailers offered special
promotions early and then again later in the season as shoppers raced to
secure “guaranteed by Christmas” shipping offers. Looking at Mastercard’s
expanded holiday season, total retail sales were up +8.6%* YOY for the 75
days between October 11 and December 24.
* Thanksgiving weekend remained key: Black Friday marked the top spending
day of the 2021 holiday season yet again. For the Thanksgiving weekend
running Friday, November 26 through Sunday, November 28, shoppers drove
U.S. retail sales up +14.1% YOY. In-store sales also rebounded, increasing
+16.5% YOY while e-commerce sales experienced sustained growth, up +4.9% YOY.
* Smaller boxes had a big impact: Whether consumers were shopping for
themselves or for loved ones, the Jewelry sector experienced some of the
strongest YOY and YO2Y growth.
* E-commerce sales snowballed: This holiday season, e-commerce made up
20.9% of total retail sales, up from 20.6% in 2020 and 14.6% in 2019. The
channel continues to experience elevated growth as consumers enjoy the
ease of holiday browsing and buying in the comfort of their own homes.