Despite supply issues and omicron, holiday sales rise 8.5%

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Despite supply issues and omicron, holiday sales rise 8.5%
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Online sales were up 11% from a year ago and 61% from 2019, according to one spending measure. Department stores registered a 21% increase over 2020.

Mastercard SpendingPulse, which tracks all kinds of payments including cash and debit cards, reported Sunday that holiday sales had risen 8.5% from a year earlier. Mastercard SpendingPulse had expected an 8.8% increase.Holiday sales were up 10.7% compared with the pre-pandemic 2019 holiday period.

A broader picture will be revealed next month when the National Retail Federation, the nation’s largest retail trade group, comes out with its combined two-month results in mid-January. The results will be based on an analysis of the November and December sales figures from the Commerce Department. Analysts will also be dissecting the fourth-quarter financial results from different retailers that are slated to be released in February.

The group expects that online and other non-store sales, which are included in the total, will increase between 11% and 15%. The numbers exclude automobile dealers, gasoline stations and restaurants. Holiday sales have averaged gains of 4.4% over the past five years, according to the group.

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