Retail sales see double-digit growth above 10%* compared to June 2019
Just as summer months bring warmer weather, U.S. retail sales continue to heat up, with June marking the ninth consecutive month of total retail sales growth*.
According to Mastercard SpendingPulseTM, U.S. retail sales excluding automotive and gasoline increased +11.0% year-over-year in June and increased +10.4% compared to June 2019. E-commerce growth continued to hold steady +8.3% YOY/ +95.0% YO2Y, reflecting the ongoing shift to digital, driven by the pandemic.
Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment.
Specifically, sales growth for Restaurants +55.1% YOY/ +16.8% YO2Y, Department Stores +67.4% YOY/ +11.8% YO2Y and Apparel +62.9.1% YOY/ +12.7% YO2Y are up as consumers continue to venture out more for meals and shop both online and in stores, refreshing their looks for summer camp, vacations and travel.
Meanwhile, the Furniture & Furnishings sector experienced its first month of negative YOY growth -5.3% compared to last year’s strong sales, when consumers were doing home projects in the midst of the pandemic, but sales remain elevated for the sector overall +16.6% YO2Y.
*excluding auto and gas
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
