Mastercard SpendingPulse: U.S. Retail Sales Grew 26.3% Year-Over-Year in March, One Year Since First Lockdown
PURCHASE, N.Y.–(BUSINESS WIRE)–U.S. retail sales growth rates increased by double-digits in March as we hit the one-year mark since the first Covid lockdowns impacted retail sales. According to Mastercard SpendingPulse™, U.S. retail sales excluding automotive and gasoline increased 26.3% year-over-year in March, and online sales grew 56.8% compared to 2020. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment.
Retail sales benefited from the infusion of stimulus payments, coupled with broader reopening across the country. This is particularly evident when looking at the first and second halves of the month:
- Sales in the first half of March increased 1.6% vs. a year ago, when…