U.S. holiday spending rose at fastest pace in 17 years, despite Delta and Omicron

"The latest COVID-19 variant is upending holiday plans for tens of thousands of travelers — but it didn't do much damage to holiday shopping," The Associated Press reports.

Online purchases continued their upward trajectory, rising 11 percent over 2020 and 61 percent versus 2019, Mastercard said, but sales at bricks-and-mortar stores also rose 8.1 percent versus 2020. "The consumer is extremely healthy and has held up really well," said Stephen Sadove, a senior adviser to Mastercard and the former CEO of Saks. "No longer are people just staying at home in sweatpants," he added. "They are going back to the malls."

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Consumer spending rose significantly on clothing (47 percent rise over 2020), jewelry (32 percent), and electronics (16 percent), Mastercard's report found. Concerns about supply chain disruptions and delivery delays prompted many Americans to start their Christmas shopping in October, The Wall Street Journal reports, muting the effects of COVID-19's latest resurgence.

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Peter Weber, The Week US

Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.