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 SpendingPulse, 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.
Read More: Candy Digital and MLB Drop First-Ever World Series NFT: Dodgers 2020 Ring
Mastercard SpendingPulse™ reports on national retail sales across all payment types in select markets around the world. The findings are based on aggregate sales activity in the Mastercard payments network, coupled with survey-based estimates for certain other payment forms, such as cash and check. As such, SpendingPulse™ insights do not in any way contain, reflect or relate to actual Mastercard operational or financial performance, or specific payment-card-issuer data. Mastercard SpendingPulse defines “U.S. retail sales” as sales at retailers and food services merchants of all sizes. Sales activity within the services sector (for example, travel services such as airlines and lodging) are not included.
Read More: Dealshare Raises $ 144 Million in Fresh Round of Funding
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
Read More: Payments Providers Choose Trulioo to Verify Customers Worldwide
