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Mastercard Predicts Rise In Back-To-School Shopping

Retail sales are expected to grow 7.5% from mid-July through Labor Day, according to Mastercard SpendingPulse. Sales are anticipated to increase 18.3% compared to pre-pandemic 2019. “Department stores are expected to be a noteworthy back-to-school winner as the sector continues its recent rebound with 15 consecutive months of sustained growth,” per Chain Store Age. “Another winner will be physical retail as consumers return to stores to try on new sizes and browse the latest fashions in person. In-store shopping is expected to grow 8.2% year-over-year and 9.9% compared to 2019.”

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