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Holiday retail sales registered an 8.5 percent increase over the past year, according to a MasterCard report published Sunday, as the economy keeps on struggling with the highest inflation rates in almost forty years combined with product shortages.
MasterCard SpendingPulse measures sales numbers from Nov. 1 through Dec. 24, and includes in-store and online retail sales. Auto sales were not part of the survey, which included all forms of payments like cash and check.
The sales numbers in 2021 were visibly buoyed up by robust e-commerce transactions which grew about 11 percent compared to 2020, while year-to-year return to stores went up 8.1 percent. Constant worries about products running out of stock encouraged customers to buy fast and early.
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