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Reopening the ‘Experience Economy’ Fuels January Retail Sales

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U.S. retail sales in January rose 7.2 percent year-over-year, with online sales rising 10.4 percent versus January 2021. The data from Mastercard SpendingPulse indicated that pent-up savings, wage growth and the re-opening of the “experience economy” helped drive the increase in consumer spending, excluding auto purchases. Beneficiaries included department stores, apparel and luxury, which all…

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