Mastercard SpendingPulse: U.S. Retail Sales Grew 8.5%* This Holiday Season

Rhea-AI Summary

Mastercard SpendingPulse reported a notable 8.5% increase in U.S. holiday retail sales (excluding automotive) year-over-year for the period from November 1 to December 24, 2021. Online sales surged by 11.0%, reflecting a shift towards e-commerce. Key highlights include a 14.1% rise in retail sales during Thanksgiving weekend and an increase in consumer spending across various sectors, particularly apparel, which grew by 47.3%. Overall, e-commerce represented 20.9% of total retail sales this season, marking a consistent upward trend.

Positive

• U.S. holiday retail sales increased by 8.5% YOY.
• Online sales grew by 11.0% during the holiday season.
• Thanksgiving weekend sales rose by 14.1% YOY.
• Apparel sales saw a significant increase of 47.3% YOY.
• E-commerce accounted for 20.9% of total retail sales, up from 20.6% in 2020.

Negative

• None.

PURCHASE, N.Y.--(BUSINESS WIRE)-- It’s been a resurgent season for retailers as consumers stocked their carts with gifts and gadgets. According to Mastercard SpendingPulse^TM, 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.

Mastercard SpendingPulse™ U.S. Holiday Retail Sales
	Traditional Holiday Period Nov. 1 – Dec. 24
	2021 vs. 2020	2021 vs. 2019
Total retail (ex. auto)	+8.5%	+10.7%
In-store	+8.1%	+2.4%
E-commerce sales	+11.0%	+61.4%
	2021 vs. 2020	2021 vs. 2019
Apparel	+47.3%	+29.0%
Department Stores	+21.2%	+11.0%
Electronics	+16.2%	+19.8%
Jewelry	+32.0%	+26.2%
Source: Mastercard SpendingPulse measures overall retail sales across all payment types, including cash and check.  *excluding automotive

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. Holiday spending insights are preliminary.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211225005011/en/

Media Contact:

Alexandria Brown

914-260-1020

Alexandria.brown@mastercard.com

Source: Mastercard Investor Relations

FAQ

What was the increase in U.S. holiday retail sales according to Mastercard's report?

U.S. holiday retail sales increased by 8.5% year-over-year.

How much did online sales grow during the holiday season in 2021?

Online sales grew by 11.0% during the holiday season.

What were the holiday retail sales figures for Thanksgiving weekend 2021?

Thanksgiving weekend saw a 14.1% increase in retail sales year-over-year.

What percentage of total retail sales did e-commerce represent this holiday season?

E-commerce represented 20.9% of total retail sales this holiday season.

Which retail sector experienced the highest growth during the holiday sales?

The apparel sector experienced a 47.3% increase in sales year-over-year.