NORTH AMERICAN BUSINESS
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
NORTH AMERICAN BUSINESS
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
NORTH AMERICAN BUSINESS
No Result
View All Result
Home ALL Financial

Mastercard SpendingPulse: U.S. Retail Sales Grew 7.6%* This Holiday Season

by Ed Johnson
December 27, 2022
A A

PURCHASE, N.Y. — According to Mastercard SpendingPulseTM, U.S. retail sales excluding automotive increased 7.6% year-over-year this holiday season, running from November 1 through December 24. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment and is not adjusted for inflation.

“This holiday retail season looked different than years past,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated. “Retailers discounted heavily but consumers diversified their holiday spending to accommodate rising prices and an appetite for experiences and festive gatherings post-pandemic.”

Key trends this holiday season, included:

  • E-commerce shoppers ‘add to cart’: Online sales grew 10.6% compared to the same period last year, the preliminary insights show. This holiday season, e-commerce made up 21.6% of total retail sales, up from 20.9% in 2021 and 20.6% in 2020. The channel continues to experience elevated growth as consumers prioritize convenience and availability of discounts.
  • Weekend shopping reigns supreme: Black Friday sustains its title as the top spending day of the 2022 holiday season, up +12% year-over-year excluding automotive. This was followed closely by Saturdays in December.
  • Ringing in the holidays in restaurants: Building on the ongoing demand for experiences, in-person dining continued to show strong momentum with restaurants up 15.1% YOY. From gatherings with co-workers to dinners out with friends and family, the festive season brought consumers out for the holidays.

“Inflation altered the way U.S. consumers approached their holiday shopping – from hunting for the best deals to making trade-offs that stretched gift-giving budgets,” said Michelle Meyer, North America Chief Economist, Mastercard Economics Institute. “Consumers and retailers navigated the season well, displaying resilience amid increasing economic pressures.”

*Excluding automotive

Mastercard SpendingPulse™
U.S. Retail Sales
November 1 – December 24
 2022 vs. 2021
Total retail (ex. auto)7.6%
In-store6.8%
E-commerce sales10.6%
Apparel4.4%
Department Stores1.0%
Electronics-5.3%
Jewelry-5.4%
Restaurants15.1%
Source: Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment and is not adjusted for inflation

About Mastercard SpendingPulse

Mastercard SpendingPulse reports on national retail sales across all payment types in select markets around the world. The findings are based on aggregate sales activity in the Mastercard payments network, coupled with survey-based estimates for certain other payment forms, such as cash and check.

Mastercard SpendingPulse defines “U.S. retail sales” as sales at retailers and food services merchants of all sizes. Sales activity within the services sector (for example, travel services such as airlines and lodging) are not included in the total retail sales figure. Holiday spending insights are preliminary.

Tags: < Corporate Events
ShareTweetShareSend

Related Industries

Financial

Barclays Expands Technology Banking Franchise with Two Senior Appointments

January 26, 2023
Financial

KKR Appoints Tim Lawler as Executive Advisor

January 18, 2023
Financial

UC Investments Creates Strategic Venture with Blackstone to Invest $4 Billion in BREIT Common Shares

January 4, 2023
Financial

Don Bailey Joins AIG as Global Head of Distribution and Field Operations

January 4, 2023
Financial

Morgan Stanley Sustainable Signals: New Survey Shows Opportunities Exist for Asset Managers to Better Meet Asset Owner Sustainable Investing Needs

December 2, 2022
Financial

Visa and GoHenry Announce Global Partnership to Accelerate Financial Education for Children and Teens

November 30, 2022

Pfizer Expands ‘An Accord for a Healthier World’ Product Offering to Include Full Portfolio for Greater Benefit to 1.2 Billion People in 45 Lower-Income Countries

January 18, 2023

...

Michelle Quinn Named Acting General Counsel for BD

January 7, 2023

...

Microsoft and Viasat announce new partnership to deliver internet access to underserved communities globally

January 15, 2023

...

ABB sells Power Conversion division to AcBel Polytech Inc. for $505 million

January 21, 2023

...

Hilton Unveils New Brand, Spark by Hilton, a Value‑Driven Offering That Proudly Delivers Reliable Essentials and Friendly Service

January 12, 2023

...

Ford’s John Savona to Retire in March, Closing 33-Year Career; Bryce Currie Will Lead Americas Manufacturing, Labor Affairs

January 12, 2023

...

Ford Joins the Virtual Power Plant Partnership as a Founding Member to Support Grid Resiliency and Emissions Reductions

January 11, 2023

...

Bristol Myers Squibb Completes Sale of Manufacturing Facility in Syracuse, New York

January 4, 2023

...

GE Completes Separation of GE HealthCare

January 5, 2023

...

NORTH AMERICAN BUSINESS (www.na-biz.com) is a leading source of business and corporate news, information, industry trends, market updates and insights across a broad spectrum of industries in North America and worldwide.

INDUSTRIES

  • Aero
  • Agriculture
  • ALL
  • Automotive
  • Business Service
  • Chemical
  • Construction
  • Construction Materials
  • Consumer
  • Education
  • Energy
  • Entertainment
  • Environmental
  • F&B
  • Financial
  • Healthcare
  • Hospitality
  • Industrial
  • IT
  • IT Hardware
  • Logistic
  • Metal & Mining
  • Packaging & Paper
  • Rail
  • Real Estate
  • Telecom

CONTACT US

EDITORIAL:     editor#na-biz.com

PARTNERSHIP:     biz#na-biz.com

HUMAN RESOURCE:     hr#na-biz.com

* (replace # with @)

  • Official Site

Copyright © NA-BIZ.COM All rights reserved.

No Result
View All Result
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

Copyright © NA-BIZ.COM All rights reserved.