Although The Grinch sniffed around holiday shopping, sales ended up increasing year-over-year in 2021.
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What's happening: Despite a sluggish start, US retail sales rose 8.5% year-over-year between Nov. 1 and Dec. 24, according to a new report from Mastercard . An uptick in clothing sales, in particular, helped drive the spending surge."Consumers splurged throughout the season, with apparel and department stores experiencing strong growth as shoppers sought to put their best dressed foot forward," Steve Sadove, senior advisor for Mastercard, said in a statement.
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