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    US apparel retail sales increased 46% year-on-year in December 2021: Mastercard

    According to a new report from Mastercard Spending Pulse, retail sales in December ended the year at a high level as total retail sales excluding automobiles increased by 8.5%. Domestic apparel retail sales increased 46.3% year-on-year (YoY) in December 2021 and increased 22.6% compared to December 2019.

    According to a Mastercard report, US e-commerce sales increased 13.5% year-on-year in December 2021 and 60.4% year-on-year compared to December 2019.

    There are many notable trends based on the momentum of December. For example, new ways people shop and pay, and innovative strategies for retailers to reach consumers and provide different experiences. These trends include purposeful purchases, as detailed in the new Mastercard report. Commerce’E-volution’; experiential retailing; and consumer privacy become a reality.

    According to a new report from Mastercard Spending Pulse, retail sales in December ended the year at a high level as total retail sales excluding automobiles increased by 8.5%. Domestic apparel retail sales increased 46.3% year-on-year (YoY) in December 2021 and increased 22.6% compared to December 2019.

    Consumers who want to make purposeful purchases are looking for retailers to create and deliver products in a sustainable and comprehensive way and share value. Worldwide, 85% of adults say they are willing to take personal action to combat environmental and sustainability challenges. And 62% say it’s now more important for businesses to act in a sustainable and environmentally friendly way.

    For the commerce “E-volution,” retailers and brands spent much of their pandemics shifting or expanding digital channels, and online sales continued to grow strongly in December. In 2022, innovation will be amplified by retailers exploring different platforms and tactics to reach hyper-connected consumers.

    Innovation was essential as retailers began to think of digital and physical stores as more cohesive than clearly separated channels. Experience-based retail trends have revolutionized the way retailers interact digitally and directly with their customers. According to Mastercard’s Consumer Impact Survey, consumers expect to be able to buy “as they like,” and retailers need to offer hybrid models.

    As consumer privacy becomes a reality, the demand for personalized experiences needs to be met by increasing consumer attention to privacy. Retailers need to find new ways to effectively understand and engage digital consumers.

    Fiber2Fashion News Desk (KD)

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    US apparel retail sales increased 46% year-on-year in December 2021: Mastercard

    Source link US apparel retail sales increased 46% year-on-year in December 2021: Mastercard

    The post US apparel retail sales increased 46% year-on-year in December 2021: Mastercard appeared first on Eminetra.

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