Consumer spending increased in the latter part of 2021. During the holiday season, Accertify tracked huge increases in consumer spending based on online shopping transaction volume compiled during the first two weeks of December in 2019, 2020 and 2021.
In a recent MediaPost article, Jeff Wixted, vice president of marketing and client solutions cited the following increases in retail, travel and entertainment spending in 2021 compared to 2019 and 2020:
- Retail spending increased 28.5%,
- Travel saw a 3.9% increase in spending, and,
- Entertainment spending increased 11.8%.
- Retail spending was up 15% compared to 2020,
- Consumers invested 104.8% more on travel spending compared with 2020, and,
- Entertainment spending increased by 597.9%.
The Omicron variant probably induced more people to shop online, but other factors contributed to an extremely healthy holiday shopping season. Read the full story for more information. (Free subscription required)