Return of the Doorbusters: Mastercard SpendingPulse Anticipates 10%* U.S. Retail Sales Growth Thanksgiving Week
November 15 2021 - 6:01AM
Business Wire
October retail sales grew 6.1%* year-over-year, marking a strong
start to the holiday shopping season
With holiday cheer in the air and shoppers returning to stores
in force, U.S. retail sales during Thanksgiving Week are expected
to grow 10.0% YOY and 12.2% YO2Y, excluding auto and gas. According
to Mastercard SpendingPulse™, which measures overall retail
sales across all payment types including cash and check, e-commerce
is also expected to experience sustained growth, increasing 7.1%
YOY and 50.2% YO2Y for the week running November 22 through
November 28.
With supply chain challenges straining product availability,
elevated inflation and consumers creating unprecedented demand for
goods, this holiday season is shaping up to be a seller’s market
for retailers. Key Thanksgiving Week trends to watch include:
- Deal hunters may be disappointed by limited discounts:
Anticipated spending in key gift-giving categories such as Apparel
(+56.0%), Electronics (+29.6%), and Jewelry (+39.7%) may lead
retailers to discount strategically to manage product inventory and
shipping constraints.
- Black Friday rebounds in 2021: Total retail sales growth
excluding auto and gas is expected to surpass 20% on Black Friday.
Last year, Black Friday sales were suppressed due to limited
in-store foot traffic. With the return of doorbusters driving
consumers back in stores and holiday window shopping in full
display, the day is expected to rebound with optimism.
- Thankful for Thanksgiving store closures: Many big-box
retailers, department stores and outlet malls will remain closed on
Thanksgiving Day, providing consumers and employees with time to
reconnect with family and friends – or shop the seasonal deals
online. E-commerce sales Thanksgiving Week are anticipated to grow
50.2% compared to the same time in 2019.
“Holiday lights are shining bright for retailers this year,”
said Steve Sadove, senior advisor for Mastercard and former CEO and
Chairman of Saks Incorporated. “The consumer is strong and
spending. With discounts in short supply, product innovation,
availability and sustainability will be deciding factors for
consumers eager to cross off their holiday shopping lists.”
Mastercard SpendingPulse™
Anticipated U.S. Retail Sales Growth Thanksgiving Week: Nov.
22 – Nov. 28
2021 vs. 2020
2021 vs. 2019
Total Retail (ex. auto &
gas)
10.0%
12.2%
Total Retail (ex.
auto)
11.7%
13.7%
E-commerce sales
7.1%
50.2%
Apparel
56.0%
21.9%
Department Stores
40.2%
7.6%
Electronics
29.6%
17.5%
Jewelry
39.7%
39.7%
Luxury (ex. Jewelry)
92.3%
17.0%
Mastercard SpendingPulse October Insights: Holiday Spending
in Full Swing
As anticipated, the holiday shopping season kicked off in
October, with early promotions driving consumers online and in
stores. According to Mastercard SpendingPulse, October U.S. retail
sales excluding auto and gas increased 6.1% year-over-year and
12.9% compared to October 2019. E-commerce sales in October grew
13.2% YOY and 76.7% YO2Y, compared to the same periods.
Apparel, Jewelry, Luxury and Restaurants all saw double-digit
growth compared to both 2020 and 2019. In addition, Department
Stores rose +17.7% compared to last year and +6.6% vs. 2019. The
full October SpendingPulse figures can be viewed here.
*excluding automotive and gas
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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Julia Monti Julia.monti@mastercard.com 914-249-6135
Alexandria Brown Alexandria.Brown@mastercard.com
914.260.1020
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