October 22, 2021
  • October 22, 2021
  • Home
  • Retail sales
  • Mastercard SpendingPulse predicts 7.4% growth in US holiday retail sales this year

Mastercard SpendingPulse predicts 7.4% growth in US holiday retail sales this year

By on September 13, 2021 0

Mastercard SpendingPulse released its holiday forecast on Monday, with US retail sales expected to rise 7.4% for the season, excluding autos and gasoline. Shoppers are expected to return to stores with in-store sales forecast up 8.9% from 2020, or up 6.6% excluding autos and gasoline. And e-commerce is expected to grow 7.6%. “This holiday season will be defined by early shopping, higher prices and digital experiences. Over the past two years, retailers have learned a lot about what shoppers want and need, bringing us into a exciting new era of retail resilience, “said Steve Sadove, Senior Advisor for Mastercard Inc. MA,
+ 0.12%
With supply chain challenges and labor shortages impacting retail, Mastercard SpendingPulse expects promotions to kick off early. And with steep savings and federal stimulus packages boosting bank accounts, the group expects the splurge on things like luxury items to continue through the holidays. Dick’s Sporting Goods Inc. DKS,
-1.29%
and the US Postal Service are among those that have already announced seasonal hiring plans. The SPDR S&P Retail ETF XRT,
-0.38%
has gained 44.4% for the year to date while the benchmark S&P 500 SPX,
+ 0.23%
is up 18.7% over the period.


Source link