CORRECTING and REPLACING Good Tidings for Retailers: Mastercard SpendingPulse Anticipates U.S. Holiday Retail Sales to Grow 7.4%* in 2021
September 13 2021 - 10:24AM
Business Wire
First paragraph, third sentence of release should read: —growing
6.6% compared to 2020 (instead of —growing 8.9% compared to
2020).
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the full release here:
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The updated release reads:
GOOD TIDINGS FOR RETAILERS: MASTERCARD
SPENDINGPULSE ANTICIPATES U.S. HOLIDAY RETAIL SALES TO GROW 7.4%*
IN 2021
Consumers and brands alike are gearing up for what’s anticipated
to be the most wonderful holiday retail season on record. According
to Mastercard SpendingPulse™, which measures overall retail
sales across all payment types including cash and check, this
holiday season U.S. retail sales are anticipated to grow 7.4%
excluding automotive and gas. Consumers are expected to spend
online at even higher rates (+7.6%) than last year, while in-store
sales excluding automotive and gas are also expected to see a
rebound—growing 6.6%** compared to 2020.
With early holiday shopping slated to begin in October again
this year, retail sales for the “75 Days of Christmas,” are
anticipated to grow 6.8% excluding automotive and gas, and
e-commerce sales to grow by 7.5% compared to the same time period
last year.
While this holiday season will continue to look different –due
to geographical, economic, and household differences – there are a
number of overarching trends to watch:
- Early season’s greetings: With potential supply chain
and labor supply issues impacting the season, retailers are
expected to offer omnichannel promotions early on – particularly in
the heavily gifted Electronics, Apparel and Department Store
sectors. Technologies like contactless and buy online, pick up in
store will continue to be embraced by consumers and retailers who
desire a quick and seamless experience.
- ‘Tis the season for splurging: Fueled in part by pent-up
savings and government stimulus, consumers have the desire and the
means to spend. Over the last six months, the Luxury retail and
Jewelry sectors have been experiencing some of the strongest YOY
and YO2Y growth; that is anticipated to continue through the
holidays.
- Shoppers return to stores, though shift to e-commerce is
here to “sleigh”: Nothing says holiday cheer like busy malls
and bustling Main Streets. While we anticipate that the return to
in-store browsing and shopping will continue, e-commerce retail
sales are not going anywhere. For the extended holiday season,
e-commerce sales are expected to grow 7.5% YOY and 59.3% YO2Y - a
record high for the channel.
“This holiday season will be defined by early shopping, bigger
price tags and digital experiences. Over the past two years,
retailers have learned a lot about what shoppers want and need,
bringing us into an exciting new age of retail resilience,” said
Steve Sadove, senior advisor for Mastercard and former CEO and
Chairman of Saks Incorporated. “Retailers have been preparing for
this moment and will find innovative ways to deliver on what’s
bound to be the biggest holiday shopping season yet.”
Mastercard SpendingPulse: August Actuals - Sustaining Retail
Momentum
The holiday season will be a fitting end to a year marked by
strong retail performance. In August, for instance, U.S. retail
sales excluding automotive and gasoline increased 8.1%
year-over-year, and 7.7% compared to August 2019. Online sales in
August grew 8.1% and 82% respectively, compared to the same
periods. This momentum was particularly evident in key gifting
categories, which have experienced strong year-over-year growth,
including: Apparel (+75.2%), Electronics (+12.4%) and Department
Stores (+28.7%). View the full August SpendingPulse figures
here.
*excluding auto and gas sales
** 6.6% excludes auto and gas. When looking at in-store retail
sales excluding auto, sales are expected to grow 8.9%
About Mastercard SpendingPulse
Mastercard SpendingPulse reports on national retail sales across
all payment types in select markets around the world. The findings
are based on aggregate sales activity in the Mastercard payments
network, coupled with survey-based estimates for certain other
payment forms, such as cash and check.
Mastercard SpendingPulse defines “U.S. retail sales” as sales at
retailers and food services merchants of all sizes. Sales activity
within the services sector (for example, travel services such as
airlines and lodging) are not included.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments
industry. Our mission is to connect and power an inclusive, digital
economy that benefits everyone, everywhere by making transactions
safe, simple, smart and accessible. Using secure data and networks,
partnerships and passion, our innovations and solutions help
individuals, financial institutions, governments and businesses
realize their greatest potential. Our decency quotient, or DQ,
drives our culture and everything we do inside and outside of our
company. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all.
www.mastercard.com
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version on businesswire.com: https://www.businesswire.com/news/home/20210913005447/en/
Media William Tsang, Mastercard 914.249.2640 |
William.Tsang@mastercard.com Julia Monti, Mastercard 914.217.9533 |
Julia.Monti@mastercard.com
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