This holiday season, sales rose at the fastest pace in 17 years, according to the Business Mirror. Despite inflation, shortages and the new Covid-19 strain, US holiday sales grew 8.5%, the news outlet reported.
According to Mastercard SpendingPulse, clothing sales rose 47%, jewelry 32% and electronics 16%. "I feel really good about how the season played out,'' Steve Sadove, senior adviser to Mastercard and former CEO of Saks Inc said in a video. "When people feel a little bit uncomfortable, you'll see a little bit of a pickup in online and a little bit of a slowdown in-store performance.''
In early December, The National Retail Federation said holiday sales were on track to beat its already record-breaking forecasts by about 10.5%. This prediction was released right before Omicron became a major disruption. However, retail sales have continued to rise.