Department Stores Continue their Rebound: Following a multi-year decline, department stores have made their way into the spotlight after 15 consecutive months of sustained growth.From needing to try on new sizes to wanting to browse the latest fashions in person, the return to stores is expected to grow 8.2% YOY / 9.9% YO3Y this season. The In-Store Experience: Shopping for back-to-school becomes an experience of its own.Anticipated retail trends for the 2022 back-to-school season include: Ultimately, we’ll watch to see how they balance their desire for fresh styles and new experiences with continued price pressures. This back-to-school season will be defined by the resilience and flexibility of the consumer. “While Mastercard SpendingPulse anticipates growth across sectors, retailers will need to find innovative ways to entice shoppers as discretionary spending potentially stretches thin as a result of increasing prices.” “Back-to-school is the second biggest season for retailers and is often looked at as an early indicator of retail momentum ahead of the traditional holiday season,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated. Sales are anticipated to be up 18.3% compared to pre-pandemic 2019, with Department Stores expected to be a noteworthy winner as the sector continues its recent rebound. retail sales are expected to grow 7.5% excluding automotive compared to 2021. As we look ahead to the critical mid-July through Labor Day back-to-school period, U.S. This is according to Mastercard SpendingPulse™, which measures in-store and online retail sales across all forms of payment, not adjusted for inflation. While inflation is impacting retail sectors and households in a myriad of ways, continued consumer demand contributed to double-digit growth across nearly all retail sectors in May. Total retail sales post double-digit growth in May, with Department Stores, Jewelry and Luxury outperforming
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