PURCHASE, N.Y.—U.S. retail sales excluding automotive were up +6.9% year-over-year in February, according to Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment.
Mastercard SpendingPulse reflects nominal spending and is not adjusted for inflation, the company said.
“Following a dynamic holiday season, consumer spending returned to a familiar and healthy balance in February,” said Steve Sadove, Mastercard senior advisor and former CEO of Saks said in a statement. “Consumers have remained resilient, prioritizing discounts where possible to counteract inflationary pressures.”
Key Spending Trends
According to Mastercard SpendingPulse, at a national level, key spending trends from February include:
- E-commerce resilience. Following months of strong growth, E-commerce sales continued to climb, up +13.2% YOY as winter weather activity in many parts of the country kept consumers inside and ordering from the comfort of home. In-store sales were up +5.5% YOY.
- Experiences remain a top priority. Spending on Restaurants (+14.2%), Airlines (+15.6%) and Lodging (+42.7%) experienced elevated growth YOY. This reflects suppressed growth in 2022, as well as continued demand for travel and experiences ahead of the spring break season.
- Apparel & Department stores show moderate growth. Apparel (+3.9%) and Department store (+5.6%) sectors experienced modest year-over-year growth in February as consumers put an emphasis on pricing and value. In particular, Valentine’s Day drove a spike in sales across gifting sectors, including Apparel, Department Stores, and Jewelry.
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