Early reports of 2010 holiday sales indicate retailers had their best season since the pre-Great Recession year of 2007. For the 50 days before Christmas, retail sales (excluding auto sales) rose 5.5% compared to the same period last year, according to MasterCard Advisors SpendingPulse. That increase translates into total retail sales of about $583.4 billion, compared to $566.3 billion for the same period in 2007, according to published reports.

SpendingPulse, which uses MasterCard data as well as surveys of other forms of payment, reported increases in several key retail categories. Apparel sales rose 11.2%; jewelry sales climbed 8.4%, and non-jewelry luxury sales increased 6.7%. The electronics sector was a laggard, with a modest 1.2% increase over 2009.

Online sales were a particular bright spot this year, rising a projected 15.4% to $36.4 billion, according to MasterCard's SpendingPulse eCommerce Index.

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