“Shoppers were eager to secure their gifts ahead of the retail rush, with conversations surrounding supply chain and labor supply issues sending consumers online and to stores in droves,” said Steve Sadove, a senior advisor for Mastercard and a former CEO and chairman of Saks Inc., in a statement. “Consumers splurged throughout the season, with apparel and department stores experiencing strong growth as shoppers sought to put their best dressed foot forward.” E-commerce led the growth with an 11% jump from last year, but brick-and-mortar stores also performed well—up 8.1%—despite the fast-spreading omicron variant grabbing headlines in the weeks before Christmas. Clothing rose 47.3%, jewelry was up 32%, and electronics increased 16.2%. Earlier this month, the National Retail Federation projected holiday sales from Nov. 1 through Dec. 31 could grow as much as 11.5% over 2020, to a record level. Have a question, comment, or story to share? You can reach Medora at medoralee@thebalance.com.
