Despite supply and omicron issues, holiday sales increase 8.5%

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Holiday sales grew at the fastest rate in 17 years, even as shoppers grappled with higher prices, product shortages and a new COVID-19 variant raging in the final weeks of the season , based on a measure of expenditure.

Mastercard SpendingPulse, which tracks all kinds of payments including cash and debit cards, reported on Sunday that holiday sales were up 8.5% from the previous year.

MasterCard SpendingPulse expected a 7.4% increase.

The results covered from November 1 to December 24.

They were fueled by purchases of clothing and jewelry.

Holiday sales increased 10.7% from the pre-pandemic 2019 holiday season.

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