U.S. Retail Sales rise 7.6% During Holidays

U.S. retail sales rose 7.6 percent during the holidays this year. The year-over-year bump recorded by Mastercard’s SpendingPulse tracker during the holiday period of November 1 through December 24 was lower than the 8.8 percent increase from 2020 to 2021.

Black Friday sales were up 12 percent from last year, and online sales were up 10.6 percent.

E-commerce made up slightly more of the total retail sales this year, 21.6 percent, than in the previous two years.

Restaurant dining was also up 15.1 percent year-over-year as the U.S. eases away from pandemic restrictions and consumers seek in-person experiences.

“Retailers discounted heavily but consumers diversified their holiday spending to accommodate rising prices and an appetite for experiences and festive gatherings post-pandemic,” said Mastercard senior adviser Steve Sadove, the former chairman and CEO of Saks, Inc.