Mastercard SpendingPulse: Canadian retail sales close out the year with +8.2%* year-over-year growth in December

January 19, 2023

Canadian retail sales, excluding automotive, increased +8.2% YOY in December, according to Mastercard SpendingPulseTM, which measures in-store and online retail sales across all forms of payment. In-store sales were up +10.4% YOY as Canadians returned to in-person holiday shopping. E-commerce sales were down marginally -0.1% YOY but were up +78.9% since pre-pandemic. Mastercard SpendingPulse accounts for nominal spending and is not adjusted for inflation.

“Without the pandemic restrictions of past holiday seasons, Canadians returned to in-store spending and celebrated the holiday season with family, friends and colleagues as seen by solid year-over-year spend increases in sectors such as restaurants, fuel and apparel” said Michelle Meyer, Chief Economist, North America, Mastercard Economics Institute.

*Excluding Automotive

Media Contacts

Cory Fisher, Mastercard

Cory.Fisher@mastercard.com

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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