Total U.S. retail sales have grown year-over-year every month since September 2020, as consumer spending continues to rebound as the holiday season approaches, according to the latest edition. Mastercard SpendingPulse released Wednesday, October 6. SpendingPulse Mastercard measures in-store and online retail sales for all forms of payment.
For September 2021, retail sales across the country – excluding autos and gasoline – were up 5.4% year-over-year and 11.5% from year to year. to two years ago. E-commerce sales increased 11.5% year on year and 72.4% compared to two years ago, further showing the continued growth of digital commerce.
The clothing industry grew 56% year on year and 15.6% from two years ago, while department stores grew 20.8% from 2020 to 2021 and 15.5% % compared to 2019.
Electronics and home appliances grew 18% year-over-year and 16.5% from two years ago, while grocery sales rose 3.3% from 2020 to 2021 and 14.0% compared to 2019. Jewelry has jumped 55.3% from 2020 to 2021 and 56.9% compared to two years ago. . Luxury sales (excluding jewelry) increased 63.8% over the past year and 12% compared to 2019. Restaurant sales, meanwhile, increased 44.1% year over year to the other and 30.7% compared to two years ago.
“Discretionary spending is experiencing strong growth,” Mastercard said in its announcement. âThe restaurant, department store, apparel and jewelry industries are on the rise as consumers increasingly venture out to refresh their look for events, occasions and vacations. “
Retail: Consumer spending and income show gains in August
Meanwhile, personal consumption expenditure (PCE) in the United States rose 0.8% ($ 130.5 billion) in August, coinciding with a personal income rise of 0.2% (35.5 billion) and a 0.1% increase in personal disposable income (DPI) ($ 18.9 billion), according to the Bureau of Economic Analysis.
The increase in spending translates to $ 66 billion for goods – food, beverages and non-durable goods like housewares and hobbies – and $ 64.6 billion for services, including personal care, clothing, housing and utilities, and health care.
The August PCE price index rose 4.3% from 2020, with increases in both goods and services. Energy prices rose 24.9% and food prices jumped 2.8%.