PURCHASE, N.Y.–Retail sales in the United States jumped nearly 11% this holiday season compared with the holiday period in 2019, the year before the pandemic upended the global economy, according to a new Mastercard analysis.
The report, Mastercard SpendingPulse, showed an 8.5% increase in retail sales over the holiday season, defined as Nov. 1 to Dec. 24, compared with last year. The figures exclude automobile sales.
According to Mastercard, sales in stores were up 8.1% compared with last year, while e-commerce sales were up 11%. Compared with 2019, before the pandemic brought about an explosion of online ordering, e-commerce sales jumped over 61%.
Online sales made up 20.9% of all retail sales this year, the Mastercard SpendingPulse reported. In 2019, online sales accounted for just 14.6% of all retail sales, underscoring how the pandemic has accelerated the shift to e-commerce.
Beating the Rush
In a statement cited by the Times, Steve Sadove, senior adviser for Mastercard, said many Americans got their Christmas shopping done early this year. “Shoppers were eager to secure their gifts ahead of the retail rush,” he said, “with conversations surrounding supply chain and labor supply issues sending consumers online and to stores in droves.”
While the holiday period starts on Nov. 1 according to the Mastercard accounting, Thanksgiving weekend, the traditional start to holiday shopping, was crucial for retailers. Black Friday, Mastercard noted, was the top day for spending during the holiday season, and spending for the entire long weekend was up 14% compared with last year.
The report, Mastercard SpendingPulse, showed an 8.5% increase in retail sales over the holiday season, defined as Nov. 1 to Dec. 24, compared with last year. The figures exclude automobile sales.
According to Mastercard, sales in stores were up 8.1% compared with last year, while e-commerce sales were up 11%. Compared with 2019, before the pandemic brought about an explosion of online ordering, e-commerce sales jumped over 61%.
Online sales made up 20.9% of all retail sales this year, the Mastercard SpendingPulse reported. In 2019, online sales accounted for just 14.6% of all retail sales, underscoring how the pandemic has accelerated the shift to e-commerce.
Beating the Rush
In a statement cited by the Times, Steve Sadove, senior adviser for Mastercard, said many Americans got their Christmas shopping done early this year. “Shoppers were eager to secure their gifts ahead of the retail rush,” he said, “with conversations surrounding supply chain and labor supply issues sending consumers online and to stores in droves.”
While the holiday period starts on Nov. 1 according to the Mastercard accounting, Thanksgiving weekend, the traditional start to holiday shopping, was crucial for retailers. Black Friday, Mastercard noted, was the top day for spending during the holiday season, and spending for the entire long weekend was up 14% compared with last year.
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