Online shopping

U.S. Holiday Retail Sales Rise 8.5% as Online Shopping Booms – Mastercard

Dec 26 (Reuters) – U.S. retail sales rose 8.5% during this year’s holiday shopping season, from Nov. 1 to Dec. 24, thanks to soaring sales in online, a report from Mastercard Inc.

According to the Mastercard SpendingPulse report, e-commerce sales in the United States jumped 11% during this year’s holiday shopping season, once again underscoring the role of the COVID-19 pandemic in transforming customer buying habits.

Shoppers also rushed to stores amid supply chain issues as COVID-19 cases surged, pushing sales at physical stores up 8.1% from 2020, the report added. .

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People ride an escalator while others stand in a mall during holiday season shopping as the Omicron coronavirus variant continues to spread in Brooklyn, New York, U.S., December 18, 2021. REUTERS/Andrew Kelly

“Shoppers were eager to secure their gifts before the retail rush, with conversations surrounding supply chain and labor issues sending consumers online and into stores in droves,” said Mastercard Senior Advisor Steve Sadove in a statement.

E-commerce sales during the holidays accounted for 20.9% of total retail sales this year, the data showed, noting that the sector continues to see growth as consumers appreciate the ease of browsing and shopping in the comfort of their home.

Segments such as jewelry and electronics continued to show growth, with jewelry sales jumping 32% and electronics sales up 16.2% from 2020 levels, according to the report.

The SpendingPulse report tracks spending by combining sales activity in Mastercard’s payment network with estimates of cash and other forms of payment, but excludes auto sales.

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Reporting by Akriti Sharma in Bengaluru; Editing by Mark Porter

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