2022 U.S. Back-to-School Season Consumption Trend Forecast! Demand for clothing and electronic products will rise!

It is learned that according to the forecast of Mastercard SpendingPulse, US retail sales will increase by 7.5% year-on-year in the 2022 back-to-school season (mid-July to September). As demand grows, department stores will become the "most noteworthy winners."

“The back-to-school season is the second-largest season for retailers and is often viewed as an early indicator of retail momentum ahead of the peak season,” said Steve Sadove, senior advisor at Mastercard.

Here are the retail trend forecasts for the 2022 back-to-school season in the United States:

• In-store sales are growing steadily. Sales are expected to increase by 8.2% over 2021 and 9.9% over 2019;
• Department store sales are rebounding. After 15 consecutive months of decline, sales are expected to increase by 13% year-on-year and 27.3% compared to 2019.
• The apparel industry continues to grow. With the arrival of wedding season and outdoor activities, demand for clothing shows no signs of slowing down, with sales expected to increase by 8.7% year-on-year and 15.9% compared to 2019.
• Electronics and appliances sales were also strong, expected to rise 5.9% year-over-year and 17.6% from 2019.
• Online sales are not slowing down. Online sales will increase 4.3% year-over-year and 89.3% from 2019;

"Back-to-school sales growth depends on consumers' financial ability, and retailers need to find innovative ways to attract consumers who may have less discretionary spending due to rising prices," Mastercard said in a statement.

“As the economy continues to rebalance, the consumer has been resilient, with rising prices for essentials like gasoline and food, as well as higher interest rates, leading consumers to spend more on goods and services,” Michelle Meyer, chief U.S. economist at Mastercard Economics, said in a statement.

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