US retail sales in the fourth quarter of 2021 increased by 9% year-on-year! Average spending increased by 15% year-on-year!

It is learned that according to data from NPD Group, US retail sales in the fourth quarter of 2021 increased by 9% year-on-year, and the average spending of US consumers increased by 15% compared with the same period in 2020. Although the holiday sales season brought strong growth to the total annual retail sales in the United States in 2021, the growth at the beginning of the year was more significant.

Retail sales growth in the first two quarters of 2021 was double-digit, accounting for almost two-thirds of the full-year growth, mainly driven by back-to-school sales and government subsidies. The fourth quarter retail sales growth accounted for only 20% of the full-year growth, compared with 30% in the fourth quarter of 2020.

Experts say that overall, holiday retail sales have not been affected by adverse factors. Inventory concerns prompted consumers to shop early during the holiday shopping season. Although experiential spending has slowly recovered, categories such as protective equipment and daily necessities have been in the highest demand in the post-epidemic era. Especially in the case of a sudden surge in new crown cases in late December 2021, the prices of protective equipment generally rose, and spending boosted retail sales throughout 2021, offsetting inventory-related challenges.

Editor ✎ Estella/

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