U.S. January 2022 Retail Sales Up 7.2% Y-o-Y

Despite fear of the Omicron virus spreading and elevated inflation, U.S. retail sales excluding auto in the month of January 2022 saw a growth of 7.4% Y-o-Y, according to Mastercard SpendingPulseTM, which measures both online and in store sales across all forms of payment. The growth was aided by pent-up consumer spending and wage growth, which saw online sales growing 10.4% Y-o-Y in January 2022. Apparel, Department Stores and Luxury, all saw double-digit growth.

According to Mastercard SpendingPulse, Restaurant sales grew 36.7% Y-o-Y in Jan 2022; Apparel sales grew 37.6% Y-o-Y, Department Stores sales grew 10.5% Y-o-Y, sale of luxury good grew 45.3% Y-o-Y whereas Jewellery sales grew 19.8% Y-o-Y.

Source: Mastercard SpendingPulse: January U.S. Retail Sales Up 7.2%*, Marking Solid Start to 2022 | Business Wire

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