Undoubtedly retail is seeing a major turnaround since the pandemic. From retail imports seeing a record surge, to more recent insights by Mastercard SpendingPulse™, indicating tremendous double-digit sales increase.
As the country began to lift restrictions, reopenings directly impacted March retail sales, growing 26.3% YOY.
According to Mastercard’s insights ”Sales in the first half of March increased 1.6% vs. a year ago, when consumers were hitting the stores and stocking up in the face of the pandemic. In comparison, during the second half of the month, retail sales rose 46.9% YOY. This growth reflects both the positive boost of the stimulus payments on consumer spending as well as the lockdowns that weakened retail sales across the country in the same period in 2020.”