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Holiday retail sales jump 3% during the holiday shopping season – Oct. 11 to Dec. 24 – according to data from a Mastercard (MY) – Get the report survey.
“American consumers have turned the holiday season upside down,” Steve Sadove, senior advisor to Mastercard, said in a statement. “They shopped from their homes to their homes, leading to record growth in e-commerce.”
Online sales are up nearly 50% from 2019 figures, according to preliminary data from the Mastercard SpendingPulse survey. Spending on automobiles and gasoline were not included in the numbers, which followed sales during the extended holiday shopping season.
The delayed start to the season means Americans bought earlier than in recent holiday seasons, Sadove added.
E-commerce sales accounted for nearly a fifth of overall retail sales – up from about 13.4% last year – according to the survey. In addition, spending on household furniture, furnishings and home improvement were big drivers this year.
Sales of furniture and home furnishings increased by 16.2% and renovation sales by 14.1% compared to 2019.
Clothing sales, however, fell sharply, while electronics and appliances registered modest increases of around 6%.
Unsurprisingly, department store sales fell more than 10%, while online sales rose 3.3%. Many retailers saw a decline in the number of customers in physical stores during the pandemic, which significantly exacerbated a trend that has been underway in recent years as more shoppers shop online.
“Online shopping, in-store pickup, and technologies like contactless have been essential for retailers this season,” according to the survey.
The Mastercard survey, which was released over the holiday weekend, measures general trends in retail spending for all types of payments, including cash, cards and checks.
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