Retail sales of key holiday categories showed mild to sharp gains in the first two weeks ended Nov. 13, particularly in apparel, luxury and jewelry, according to MasterCard Advisors’ SpendingPulse, a macroeconomic report tracking national retail and service sales.
“Since August, 2010, there have been slow and steady gains in a number of categories,” observed Michael McNamara, Vice President, Research and Analysis for MasterCard Advisors SpendingPulse. “Although some sectors such as Furniture and Furnishings remain flat or slightly down, we are now beginning to see sharper increases in key holiday categories, indicating a solid start to the holiday season. For now at least, we are seeing some decent growth numbers and while levels are not yet back to 2007, the year-over-year growth stats are helping to get the holiday season off to an encouraging start.”
For the pre-season period through Nov. 13, Total Apparel sales were up 9.7% against the same period last year. This number is an acceleration over October’s year-over-year increase of 8.2% for the category, and further builds on the 7 out of 10 months’ year-over-year gains for the sector in 2010. One should note however that the year-over-year comparisons are easier in early November compared to December for Apparel.
The SpendingPulse Luxury ex-Jewelry Index, which tallies sales at high-end restaurant, food stores, department stores and general apparel categories, was also a gainer. Through November 13, the Luxury Index was up 6.7%, in sharp contrast to the same period last year, when luxury fell by 9.2%, and again building on October’s year-over-year momentum, wherein the category was up by 4.2% year over year.
eCommerce returned to double digit gains, continuing to build on the 7%-plus gains of August, September and October, hitting an 11.4% year-over year increase.
Finally, the Electronics and Appliances category for the period through November 13 reversed its 3.1% loss from October, going back into positive territory and posting a 0.7% gain. Separated out, Consumer Electronics was up 0.4%.
A macroeconomic indicator, SpendingPulse reports on national retail and services sales and is based on aggregate sales activity in the MasterCard payments network, coupled with survey-based estimates for all other payment forms, including cash and check. MasterCard SpendingPulse does not represent MasterCard financial performance. SpendingPulse is provided by MasterCard Advisors, the professional services arm of MasterCard Worldwide.
