In the United States, where the Omicron variant has spread rapidly, there has been a decline in consumer spending in December 2021 due to the historical increase in inflation and shortages in various products. This resulted in a 1.9 percent decline in retail sales.
Retail sales, which increased by 1.8 percent in October 2021, increased by 0.3 percent in November. In a statement made today by the US Department of Commerce, it was stated that the rate of retail sales decreased last month. However, despite this decline, retail sales in December 2021 are 16.9 percent higher than in December 2020.
The latest data released by the ministry show that total retail sales recorded in 2021 are 19.3 percent higher than in 2020.
The decline in sales in the last month of 2021 was observed in many different sectors. While there was a 8.7 percent decline in online shopping, this rate was reflected in the sales of large stores by 7 percent and in restaurants by 0.8 percent.
In the report published by the Ministry of Commerce today, it was also emphasized that the decrease in consumer spending in December did not cover other spending areas such as hotels, airlines and hairdressers.
In the pre-pandemic economy, consumer spending in America in general was increasing in December as part of the Christmas and New Year celebrations. Experts point out that the new data in retail sales also shows the changes in consumer habits that come with the pandemic process.
Despite the decline in retail sales in the last month of 2021, Americans’ spending throughout the year has increased.
According to Mastercard SpendingPulse data, which tracks all expenditures of consumers, including payments made with cash and debit cards, in the period defined as the festive season in the United States, from November 1 to December 24, total sales increased by 8.5 percent compared to the same period of the previous year. It increased. It is stated that this is the largest sales rate increase recorded in the last 17 years.
Many experts predict that as the impact of the Omicron variant begins to wane, consumer spending, which is part of the economy’s recovery, will start to rise again.