CORRECTING and REPLACING Good Tidings for Retailers: Mastercard SpendingPulse Anticipates U.S. Holiday Retail Sales to Grow 7.4%* in 2021
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The updated release reads:
GOOD TIDINGS FOR RETAILERS:
Consumers and brands alike are gearing up for what’s anticipated to be the most wonderful holiday retail season on record. According to Mastercard SpendingPulse™, which measures overall retail sales across all payment types including cash and check, this holiday season
With early holiday shopping slated to begin in October again this year, retail sales for the “75 Days of Christmas,” are anticipated to grow 6.8% excluding automotive and gas, and e-commerce sales to grow by 7.5% compared to the same time period last year.
While this holiday season will continue to look different –due to geographical, economic, and household differences – there are a number of overarching trends to watch:
Early season’s greetings: With potential supply chain and labor supply issues impacting the season, retailers are expected to offer omnichannel promotions early on – particularly in the heavily gifted Electronics,
Apparel and Department Storesectors. Technologies like contactless and buy online, pick up in store will continue to be embraced by consumers and retailers who desire a quick and seamless experience.
- ‘Tis the season for splurging: Fueled in part by pent-up savings and government stimulus, consumers have the desire and the means to spend. Over the last six months, the Luxury retail and Jewelry sectors have been experiencing some of the strongest YOY and YO2Y growth; that is anticipated to continue through the holidays.
- Shoppers return to stores, though shift to e-commerce is here to “sleigh”: Nothing says holiday cheer like busy malls and bustling Main Streets. While we anticipate that the return to in-store browsing and shopping will continue, e-commerce retail sales are not going anywhere. For the extended holiday season, e-commerce sales are expected to grow 7.5% YOY and 59.3% YO2Y - a record high for the channel.
“This holiday season will be defined by early shopping, bigger price tags and digital experiences. Over the past two years, retailers have learned a lot about what shoppers want and need, bringing us into an exciting new age of retail resilience,” said
Mastercard SpendingPulse: August Actuals - Sustaining Retail Momentum
The holiday season will be a fitting end to a year marked by strong retail performance. In August, for instance,
*excluding auto and gas sales
** 6.6% excludes auto and gas. When looking at in-store retail sales excluding auto, sales are expected to grow 8.9%
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 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.
Source: Mastercard Investor Relations