Mastercard SpendingPulse: Canada retail sales in June show continued leisure spending
July 14, 2022 | TorontoAccording to Mastercard SpendingPulseTM, which measures in-store and online retail sales across all forms of payment. Canadian consumer retail spending excluding automotive increased +5.7% year-over-year (YOY)* in June, indicating consistent growth compared to May. In-store spending was up +9.0% YOY in June. As consumers returned to in-person shopping, e-commerce decreased (-7.1% YOY), but sales for e-commerce compared to pre-pandemic continued to experience strong growth (+90.5% YO3Y).
While inflation persists, discretionary spending in June continued to drive growth across leisure sectors including Restaurants +21.9% YOY/ +7.7% YO3Y, Jewelry +35.9% YOY/ +10.8% YO3Y, and Apparel +35.2%/ +13.2% YO3Y. Canadians also continued to spend on Home Improvement with increased growth of +7.3% YOY/ +33.5% YO3Y while Home Furniture and Furnishings slowed -1.3% YOY but remains elevated compared to pre-pandemic +15.1% YO3Y.
“While discretionary spending is up, sector by sector, we will see inflation impact consumer spending as prices for essentials increase,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated. “With dollars being stretched, retailers should look for ways to personalize and customize offers accordingly.”
*Mastercard SpendingPulse is not adjusted for inflation.
About Mastercard SpendingPulse
Mastercard SpendingPulse reports on national retail sales across all payment types in select markets around the world. The findings are based on aggregate sales activity in the Mastercard payments network, coupled with survey-based estimates for certain other payment forms, such as cash and check.
Mastercard SpendingPulse defines “Canadian retail sales” as sales at retailers of all sizes, excluding automobiles. Sales activity within the services sector (for example, travel services such as airlines and lodging) are not included.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
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