Retail sales saw strong growth in December 2021,, ending a strong shopping season.
The report shows that holiday season retail sales increased by 8.5%. This excludes auto figures.
Mastercard SpendingPulse – Retail Sales Grew in December
The report lists a snapshot of sales growth by sector. It found that restaurants saw the highest sales growth, jumping by 51.9% compared to figures from the same period in 2020.
Luxury was the second-best sector in terms of sales over the holiday period, representing a 46.8% jump from 2020.
The festive period proved successful for sellers of luxury items, excluding jewelry, which saw a 46.8% increase in sales from the year before.
Apparel also fared well, with figures being 46.3% more than the previous holiday season.
Electronics and appliances also witnessed robust growth, being 19.1% up compared to the 2020 holiday season.
Optimistic Sales Outlook for Retailers
The data is important for small businesses as it confirms that, despite the challenges of the year and issues related to the supply chain, many sectors enjoyed robust sales over the festive period. This should be a good start for 2022. retailers.
Additionally, for entrepreneurs thinking of starting their own business or small business owners dappling with ideas,