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PURCHASE, N.Y.--(BUSINESS WIRE)--Sep 12, 2022--
This holiday season, U.S. retail sales excluding automotive are expected to increase 7.1% year over year, according to the Mastercard SpendingPulse™ annual holiday forecast. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment. It is not adjusted for inflation. The holiday forecast, along with a look at key economic trends shaping the season, can be downloaded from the Mastercard Economics Institute here.
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Mastercard SpendingPulse, Holiday Season: U.S. Retail Sales Growth (Graphic: Business Wire)
“This holiday season, consumers may find themselves looking for ways to navigate the inflationary environment – from searching for deals to making trade-offs that allow for extra room in their gift-giving budgets,” said Michelle Meyer, U.S. Chief Economist, Mastercard Economics Institute. “New job creation, rising wages and lingering savings should have many consumers ready and able to spend.”
The 2021 holiday season was resurgent for retailers (up +8.5%) as pandemic-induced pent-up demand, excess savings and supply chain issues sent shoppers stocking their carts to secure gifts. This year, the holidays are expected to shape up to be yet another positive retail season. Key trends to watch, include:
“This holiday retail season is bound to be far more promotional than the last,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated. “Easing supply chain issues coupled with the rapid shift in consumer spending trends and over-ordering inventory have left retailers in an interesting position ahead of the holidays. Retailers that were able to clear past merchandise and accurately forecast inventory needs will be the best positioned for growth.”
Mastercard SpendingPulse: August
The holiday season builds on the momentum seen this summer, with U.S. retail sales excluding automotive in August up +11.7% year over year and +20.4% compared to 2019. Online sales in August grew +8.9% and +100.2% respectively, compared to the same periods. Experiential sectors in particular—including Restaurants, Airlines and Lodging—saw strong double-digit growth.
*Total retail sales exclude automotive sales and measure the traditional holiday season defined November 1 – December 24
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.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
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CONTACT: Alexandria Pierroz
Alexandria.Pierroz@mastercard.com
914-260-1020
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: HOME GOODS RETAIL TECHNOLOGY FINANCE BANKING PROFESSIONAL SERVICES SUPPLY CHAIN MANAGEMENT ONLINE RETAIL LUXURY CONVENIENCE STORE ELECTRONIC COMMERCE DEPARTMENT STORES PERSONAL FINANCE SPECIALTY INTERNET FASHION
SOURCE: Mastercard Investor Relations
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PUB: 09/12/2022 09:01 AM/DISC: 09/12/2022 09:02 AM
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