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Holiday spending is returning to pre-pandemic levels.

Dec 28 2021

Holiday spending is returning to pre-pandemic levels. According to research from Mastercard SpendingPulse that tracked in-store and online retail sales (across all categories, except auto) from November 1 to December 24, retail sales increased 10.7% this holiday compared to the same period in 2019, with in-store sales growing by 2.4% and online sales jumping 61.4%. Holiday spending jumped 8.5% compared to last year, marking the biggest annual increase in 17 years. Mastercard’s data gives one of the first looks at this year’s holiday spending, and notes that ecommerce sales grew 11% from 2020 to 2021 while online sales made up around 21% of total retail spending during the holiday season (a 14.6% increase from 2019). Apparel and jewelry sales saw the biggest increases, rising 47.3% and 32%, respectively, compared to one year ago, and up 29% and 26.2% compared to 2019. YPulse’s holiday shopping plans research shows young U.S. holiday shoppers planned to spend more on gifts for others this year compared to the past three years. (CNBC)