Total retail sales have been increasing each month, year over year, since September 2020, with consumer spending showing positive signs of recovery as the much-anticipated holiday season approaches. According to Mastercard ExpensesPulseMT, US retail sales excluding auto and gasoline increased 5.4% year-over-year in September and increased + 11.5% from September 2019. E-commerce sales continue to grow even as consumers return to physical stores – + 11.5% yoy / + 72.4% YO2Y – reflecting continued demand for the convenience of digital commerce. SpendingPulse Mastercard measures in-store and online retail sales for all forms of payment.
Concretely, discretionary spending is experiencing strong growth. The restaurant, department store, clothing and jewelry industries are on the rise as consumers increasingly venture to refresh their look for events, occasions and holidays.
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