Retail sales were up this holiday season compared to last year, according to a new report from Mastercard.
Mastercard SpendingPulse, the company’s entity that tracks and reports on in-store and online retail sales across all payment types in markets around the world, said that retail sales increased 7.6% from Nov. 1 through Dec. 24 this year, compared to that same period in 2021. The data does not include automotive sales, which aren’t tracked.
E-commerce continues to rise in popularity, according to Mastercard, accounting for 21.6% of total retail sales this holiday season. Online sales grew 10.6% in 2022 compared to last year, while in-store sales grew 6.8%.
Restaurants felt the holiday spirit, too. Mastercard’s report said that retail spending in restaurants was up 15.1% year-over-year this season. Apparel sales were up 4.4% and department stores saw sales increase 1%.
Other categories weren’t as lucky. Mastercard reported that electronics sales were down 5.3% compared to last year, and jewelry sales were down 5.4%.
Black Friday was the top spending day of the season, Mastercard said, followed by Saturdays in December.
