Mastercard SpendingPulse: U.S. Retail Sales Grew 3.4 Percent This Holiday SeasonDecember 26, 2019 | PURCHASE, NY | By William Tsang
Retailers have much to cheer about this holiday season. According to Mastercard SpendingPulseTM, holiday retail sales increased 3.4 percent (ex auto) with online sales growing 18.8 percent compared to 2018. Mastercard SpendingPulse provides insights into overall retail spending trends across all payment types, including cash and check.
“E-commerce sales hit a record high this year with more people doing their holiday shopping online,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated. “Due to a later than usual Thanksgiving holiday, we saw retailers offering omnichannel sales earlier in the season, meeting consumers’ demand for the best deals across all channels and devices.”
The Mastercard SpendingPulse report details holiday shopping from November 1 through December 24. Key findings of the report indicate that this was a winning holiday season for retail, especially for e-commerce:
- Total Apparel saw a gain, posting 1 percent growth year over year. The category also experienced stronger than expected e-commerce growth, up 17 percent compared to 2018.
- The Jewelry sector experienced 1.8 percent growth in total retail sales, with online sales growing 8.8 percent - supporting eCommerce strength. This trend started before the holiday season and helped the sector power through to its finish.
- Department stores saw overall sales decline 1.8 percent and online sales growth of 6.9 percent, emphasizing the importance of omnichannel offerings.
- Electronics and appliances were up 4.6 percent, while the home furniture and furnishings category grew 1.3 percent.
About Mastercard SpendingPulse
Mastercard SpendingPulse™ reports on national retail sales across all payment types in select markets around the world. The findings are based on aggregate sales activity in the Mastercard payments network, coupled with survey-based estimates for certain other payment forms, such as cash and check.
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.