At first glance it would look like good news, however these numbers are not adjusted for inflation, so real spending looks like it will be down.
Holiday spending growth in 2022 is poised to trail last year’s big bounce as customers seek out deals, Mastercard SpendingPulse projected today.
By the numbers: Holiday shoppers are expected to spend 7.1% more this year than they did in 2021, which would fall short of last year’s 8.5% increase.
The projection is also not adjusted for the four-decade high in inflation, suggesting that retail spending could suffer a decline in real terms.
What they’re saying: “This holiday retail season is bound to be far more promotional than the last,” said Steve Sadove, senior adviser for Mastercard and former CEO of Saks, in a statement.Axios Closer By Hope King and Nathan Bomey · Sep 12, 2022