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U.S. from October 11 to December 24. Retail sales rose 3.0 percent in this year’s extended holiday shopping season, driven by an epidemic shift to online shopping, a report from MasterCard Inc. said on Saturday.
U.S. Ecommerce sales rose 49% during this year’s holiday shopping season, underlining the role of the COVID-19 epidemic in transforming consumer shopping habits, according to the MasterCard Spending Pulse report.
The holiday shopping season may have accounted for the bulk of most retailers’ annual sales, but the health crisis meant some retailers, including Walmart Inc. and Target Corp.
The holiday shopping season may have a share in the annual sales of most retailers. (AP Photo / Mark Lenihan)
Next for retailers: a big wave of gift return
According to MasterCard data, total retail sales of hotel holding e-commerce merchants have increased by 19.7% this year.
The National Retail Federation estimates that the number of people shopping online has increased by 44%, with thinner crowds at many stores over the Thanksgiving holiday weekend.
With household chores and remote learning policies driving people to increase demand for home decor and home improvement products in the long run, retail sales in the home furniture and furnishings category rose 16.2%, according to the report.
Last-minute shoppers wear face masks as they search for a Christmas Eve deal at Park Meadows Mall on Thursday, December 24, 2020 in Lone Tree, Colo. (AP Photo / David Zalubowski)
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Electronics and appliances also saw a 1 per cent jump during the period, with shoppers spending less on meals, travel and leisure encouraging shoppers to make other purchases, the report said.
The SpanningPlus report tracks sales activity in MasterCard’s payment network in conjunction with estimates of cash and other forms of payment but excludes automobile sales.
