- General
- December 27, 2020
- 3 minutes read
US Holiday Online Sales Up 49% YoY; Mastercard
The payments company MasterCard has issued its SpendingPulse report for this year’s holiday sales, stating that online sales for the holiday…
The payments company MasterCard has issued its SpendingPulse report for this year’s holiday sales, stating that online sales for the holiday season grew 49% compared to last year, a big jump that’s not surprising given a pandemic that widely accelerated online shopping.
According to Mastercard’s report, holiday online sales accounted for 19.7% of total retail sales this year, wherein the adoption of e-commerce options such as in-store pickup and contactless deliveries played a key role in the growth of online sales for retailers.
As online sales soared high, normal retail sales during the holiday season rose by a relatively paltry 3% but nonetheless made up the majority of sales for the period.
Other noteworthy bits from Mastercard’s SpendingPulse report include;
- Retail sales of home furniture and furnishings up 16.2% (31% online)
- Retail sales of electronics and appliances rose 6%
- Apparel sales down 19.1% over the year
- Online jewelry sales up 44.6% over the year
- Black Friday sales went down 16.1% over the year
Mastercard’s SpendingPulse report covers sales activity in Mastercard’s own network along with estimates of cash and other payment forms but doesn’t include automobile sales.
