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Mastercard SpendingPulse: Housing-Related Sectors Soften, Experiential Spending Drives Growth

PURCHASE, N.Y., October 07, 2022--(BUSINESS WIRE)--According to Mastercard SpendingPulseTM, U.S. retail sales excluding automotive increased +11% year-over-year in September. E-commerce sales continue to grow, up +10.7% YOY, highlighting the ongoing demand for the convenience of digital commerce. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment and it is not adjusted for inflation.

Reflecting the broader contraction of the housing market, spending in and around the home is slowing. Furniture & Furnishing and Hardware sectors experienced minimal year-over-year growth, up +1.4% and +1.7% respectively.

On the other hand, experiential spending continues to rein in consumers’ dollars. In September, spending at Restaurants was up +10.9% year-over year, as consumers continue to enjoy eating out. Further, travel remains a priority as spending on Airlines and Lodging experienced double-digit year-over-year growth. This is consistent with the past several months and broader global trends as reflected in the latest Mastercard Economics Institute Report, Shifting Wallets.

Mastercard SpendingPulse™
U.S. Retail Snapshot – September 2022

Sales Growth
Year-Over-Year
Sept 2022 vs. Sept 2021

Sales Growth
vs. Pre-Pandemic
Sept 2022 vs. Sept 2019

Total Retail (ex. Auto & Gas)

9.7%

22.3%

Total Retail (ex. Auto)

11.0%

24.6%

E-commerce sales

10.7%

90.3%

In-store sales

11.1%

16.9%

Retail Sectors

Apparel

8.9%

25.9%

Department Stores

7.3%

22.7%

Electronics

13.9%

32.7%

Fuel & Convenience

23.5%

47.5%

Furniture & Furnishings

1.4%

29.4%

Grocery

9.4%

24.8%

Hardware

1.7%

17.0%

Jewelry

6.9%

67.7%

Luxury (ex. Jewelry)

-5.2%

6.2%

Restaurants

10.9%

44.9%

Mastercard SpendingPulse™
U.S. Travel Snapshot – September 2022

Sales Growth
Year-Over-Year
Sept 2022 vs. Sept 2021

Sales Growth
vs. Pre-Pandemic
Sept 2022 vs. Sept 2019

Airlines

56.4%

10.9%

Lodging

38.1%

42.5%

*Travel sectors are not reflected in total retail sales figure
Source: Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment.

About Mastercard SpendingPulse
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. 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. For more information about Mastercard SpendingPulse or to subscribe, visit product page or the AWS Data Exchange.

About Mastercard (NYSE: MA)
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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221006006077/en/

Contacts

Alexandria Pierroz
Alexandria.Pierroz@mastercard.com
914-260-1020