Luggage sales in the U.S. doubled in the 12-month period ending in February

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Looks like everyone is ready for a vacation. NPD Group data shows that luggage sales skyrocketed 129% for the 12 months ending Feb. 2022. The average selling price for luggage was up 19% for the period. “Pent-up demand from consumers yearning for travel and experiences is moving from aspiration to reality,” said Beth Goldstein, NPD’s fashion footwear and accessories analyst. Luggage revenue is still down from 2019, but going in the right direction after sales dropped by more than half in 2020. Family and leisure travel has recovered more quickly than business travel. And carry-on luggage sales fell 6% over the last year compared with two years ago. The Consumer Discretionary Select Sector SPDR ETF XLY, +0.80% has gained 12% over the past year while the benchmark S&P 500 index SPX, +1.26% is up 15.5%.

This article was originally published by Marketwatch.com. Read the original article here.

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