It is the largest increase in the last 17 years for this barometer of consumer spending (excluding cars), determined by an increase in online sales (+ 11%) but also due to a physical return to stores (+ 8.1%), writes Agerpres.
“Consumers have been going crazy all season,” said Steve Sadove, Mastercard’s senior advisor and former CEO of the luxury clothing chain Saks Fifth Avenue.
“Clothing stores and department stores have seen strong growth, consumers have felt the need to look good,” he said in a statement.
Shortly before the release of Omicron in the United States, Americans jumped into buying clothing (a 47.3% increase in sales over the same period last year), but also jewelry (+ 32%). Expenses in department stores increased by 21.2%, and sales of electronic products increased by 16.2%.
“It’s been a season of renaissance for retailers as consumers have filled their shopping carts with gifts and gadgets,” Mastercard said.
The study also shows that American families did their shopping on time.
Black Friday sales and Thanksgiving Day discounts were once again the busiest time for the 2021 holiday season, says Mastercard.
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