Total retail sales have been growing every month, year-over-year, since September 2020 as consumer spending shows positive signs of recovery heading into the highly anticipated holiday season. According to Mastercard SpendingPulseTM, U.S. retail sales excluding automotive and gasoline increased 5.4% year-over-year in September and increased +11.5% compared to September 2019. E-commerce sales continue to grow even as consumers return to physical stores—+11.5% YOY/ +72.4% YO2Y—reflecting the ongoing demand for the convenience of digital commerce. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment.
Read More: SalesTechStar Interview With Peter Leddy, Vice President, Global Partner Organization At Qlik
Specifically, discretionary spending is seeing strong growth. Restaurants, Department Stores, Apparel, and Jewelry sectors are up as consumers increasingly venture out to refresh their looks for events, occasions and vacations.
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. As such, SpendingPulse™ insights do not in any way contain, reflect or relate to actual Mastercard operational or financial performance, or specific payment-card-issuer data. 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.
Read More: QuestionPro Named As A 2021 Technology Leader In Quadrant Knowledge Solutions’ SPARK Matrix…
