Holiday retail sales were up in 2022 during the most critical sales season of the year.
Sales rose 7.6 percent during the the key period running from Nov. 1 to Dec. 24, according to Mastercard’s SpendingPulse, which measures in-store and online retail sales across all payment types.
The survey excludes the automotive industry and is not adjusted for inflation, which has been a drag on consumer spending all year.
“This holiday retail season looked different than years past,” said Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks Inc.
“Retailers discounted heavily, but consumers diversified their holiday spending to accommodate rising prices and an appetite for experiences and festive gatherings post-pandemic.”…