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U.S. retail sales rose 7.6 percent during the holidays this year, despite inflation pressures and recession fears.
The year-over-year bump recorded by Mastercard’s SpendingPulse tracker during the holiday period of Nov. 1 through Dec. 24 was lower than the 8.8 percent increase from 2020 to 2021, but exceeded the 7.1 percent forecasted this year.
Black Friday sales were up 12 percent from last year, and online sales were up 10.6 percent.
E-commerce made up slightly more of the total retail sales this year, 21.
