During the upcoming holiday season in the U.S., retail sales, excluding autos, are expected to increase by 7.1 percent. Figures from the latest Mastercard Spendingpulse forecast.
Omni-channel offerings as well as strong promotions are part of the reason for this optimistic data. But Michelle Meyer, chief U.S. economist, also explains, “New job creation, rising wages and continued savings should result in many consumers willing and able to spend.”
The holiday season builds on the momentum seen this summer. U.S. retail sales were up +11.7% in August. Ditto for online sales, which were up +8.9%. Sectors affected by this strong growth include restaurants, airlines and lodging.
An inflationary environment
The Mastercard Spendingpulse report also reveals the arrival of new trends and behaviors.
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