US retail sales up 5.4% YoY in September: Mastercard SpendingPulse

The retail sales in the country increased by 11.5 per cent compared to September 2019. E-commerce sales continue to grow even as consumers return to physical stores—11.5 per cent YOY/ 72.4 per cent YO2Y—reflecting the ongoing demand for the convenience of digital commerce, according to the Mastercard report.

Specifically, discretionary spending is seeing strong growth. Restaurants, department stores, apparel and jewellery sectors are up as consumers increasingly venture out to refresh their looks for events, occasions and vacations.

ALCHEMPro News Desk (KD)