US retail sales up 8.5% this holiday season from November 1st to December 24th, according to a MasterCard report today, thanks to increased store traffic amid supply chain concerns over rising cases , as well as the boom in e-commerce sales.
According to Reuters, e-commerce sales in the US jumped 11% this holiday season, according to Mastercard’s SpendingPulse report, reiterating the role of the COVID-19 pandemic in transforming customers’ shopping habits.
Holiday e-commerce sales accounted for 20.9% of total retail sales this year, noting that the sector continues to grow as consumers enjoy the convenience of browsing and shopping in the comfort of their own homes.
“Buyers were looking forward to securing their gifts before the festive movement of retailers increased, with discussions over supply chain and labor supply issues sending consumers online and in bulk stores,” the senior official said in a statement. Mastercard Advisor Steve Sadove.
Sectors such as jewelry and electronics continued to grow as cuts in food, travel and leisure spending encouraged shoppers to make other purchases. Jewelry sales jumped 32% from 2020 and electronics sales rose 16.2%, according to the report.
The SpendingPulse report tracks spending by combining sales activity on Mastercard payment network with cash estimates and other forms of payment, but does not include car sales.
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Source From: Capital
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