Mastercard SpendingPulse: U.S. Retail Sales* Grew 3.0% This Holiday Season
December 26 2020 - 7:05AM
Business Wire
According to Mastercard SpendingPulse™, holiday retail sales
excluding automotive and gasoline increased 3.0% this expanded
holiday season, running from October 11 through December 24.
Notably, online sales grew 49.0% compared to 2019, the
preliminary insights show. Mastercard SpendingPulse measures
overall retail spending trends across all payment types, including
cash and check.
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Mastercard SpendingPulse: Top 10 U.S.
Holiday Shopping Days by Spend (Graphic: Business Wire)
Traditional Holiday Period
November 1-December 24 Year-Over-Year Sales Growth
75 Days of Christmas October
11-December 24 Year-Over-Year Sales Growth
Total retail (ex. auto and gas)
2.4%
3.0%
Total retail (ex. auto)
0.6%
1.2%
E-commerce sales
47.2%
49.0%
Source: Mastercard SpendingPulse measures
overall retail sales across all payment types, including cash and
check.
“American consumers turned the holiday season on its head,
redefining ‘home for the holidays’ in a uniquely 2020 way. They
shopped from home for the home, leading to record e-commerce
growth,” said Steve Sadove, senior advisor for Mastercard and
former CEO and Chairman of Saks Incorporated. “And, consumers
shopped earlier than ever before. Across our expanded 75-day
holiday shopping season, sales were up 3.0%, a testament to the
holiday season and strength of retailers and consumers alike.”
Key findings from Mastercard SpendingPulse underscore the shift
to online spending, with e-commerce accounting for 19.7% of overall
retail sales – up from approximately 13.4% in 2019. In addition,
consumers continue to spend more time – and money – on their
homes.
- Home furniture and furnishings experienced the strongest growth
of any sector compared to 2019, up 16.2%, and it grew 31.0% online
specifically. In addition, home improvement was up 14.1%, with
e-commerce sales up 79.7%.
- Meanwhile, apparel experienced a decline of 19.1% year over
year, while electronics and appliances were up 6.0% overall.
- Department stores saw overall sales decline of 10.2% and online
sales growth of 3.3%, reinforcing the importance of omnichannel
offerings. Buy online, pick up in store as well as technologies
like contactless were key for retailers this season.
Mastercard SpendingPulse™: Sector
Snapshot Expanded Holiday Season: October 11 – December 24
Total YOY Retail Sales
Growth
YOY E-Commerce Sales
Growth
Apparel
-19.1%
15.7%
Department Stores
-10.2%
3.3%
Electronics & Appliances
6.0%
—
Furniture & Furnishings
16.2%
31.0%
Grocery
6.8%
—
Home Improvement
14.1%
79.7%
Jewelry
-4.3%
44.6%
Luxury (ex. Jewelry)
-21.1%
—
Source: Mastercard SpendingPulse measures
overall retail sales across all payment types, including cash and
check.
This season, U.S. consumers shopped far earlier than in years
past, as retailers offered special promotions early and often. In
addition, though Black Friday was down (-16.1%*),
Thanksgiving weekend through Cyber Monday remained a key time for
shoppers, with Black Friday being the top spending day of the 2020
holiday season.
*Total Retail Sales excluding automotive and gasoline sales
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 SpendingPulse defines “U.S. retail sales” as sales at
retailers and food services merchants of all sizes. Sales activity
within the services sector (for example, travel services such as
airlines and lodging) are not included. Holiday spending insights
are preliminary.
About Mastercard
Mastercard is a global technology company in the payments
industry. Our mission is to connect and power an inclusive, digital
economy that benefits everyone, everywhere by making transactions
safe, simple, smart and accessible. Using secure data and networks,
partnerships and passion, our innovations and solutions help
individuals, financial institutions, governments and businesses
realize their greatest potential. Our decency quotient, or DQ,
drives our culture and everything we do inside and outside of our
company. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all.
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Will Tsang William.Tsang@Mastercard.com (914) 414-5420
Julia Monti Julia.Monti@Mastercard.com (914) 217-9533
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