Mastercard SpendingPulse: Online Shopping Shines Bright This Holiday Season
December 21 2018 - 7:00AM
Business Wire
U.S. Holiday E-commerce Sales Grew 18 Percent
Compared to 2017
Consumers are on track to spend more online than ever before
this holiday season, according to Mastercard SpendingPulse™. U.S.
e-commerce sales trotted off to a strong start just before
Thanksgiving, and grew 18.3 percent year-over-year in the period
from November 1 through December 19. Mastercard SpendingPulse
provides insights into overall retail spending trends across all
payment types, including cash and check.
“Online shopping is experiencing a surge boosted by strong
growth in Apparel, Department Store, and Jewelry e-commerce sales,”
said Steve Sadove, senior advisor for Mastercard and former CEO and
Chairman of Saks Incorporated. “A mix of early deals and cold
weather helped drive shoppers online. In addition, we’re seeing
more consumers finding out about brands and listening to shopping
advice from social networks, communities and friends – making it
even easier to buy from any connected device.”
Here’s a look at the online holiday shopping trends according to
Mastercard SpendingPulse:
An e-commerce wonderland
- E-commerce’s share of overall retail
sales reached 13 percent of retail so far in the 2018 season, a new
record for online penetration.
- Apparel posted solid results online,
with a 16.5 percent growth rate. Furthermore, Department Stores,
Electronics and Jewelry all had growth rates between 7 and 10
percent.
Black Friday jingled all the way
- E-commerce has been gaining volume over
the last several years as online spending continued to diversify
across Thanksgiving week and the entire month of November. Online
sales on Black Friday grew 28.4 percent year-over-year.
- Further, wintry weather on the East
Coast helped bolster Black Friday online sales – especially during
the traditional morning doorbuster sales.
- On Black Friday, Department Stores saw
the highest year-over-year growth of online sales with 28.5
percent, followed by Apparel, which saw 25.1 percent growth
year-over-year.
Rockin' around Cyber Monday
- The one day of the season focused
exclusively on online shopping did not disappoint. Online sales
came in above 29 percent growth year-over-year.
- Specialty Apparel continued its hot run
of online sales growth with over 20 percent growth
year-over-year.
- Department Stores performed strongly,
too, lifting overall sector sales year-over-year growth (both
in-store and online) to over 4% for the day.
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.
About Mastercard
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20181221005051/en/
Mastercard Communications
Julia MontiEmail: Julia.monti@mastercard.comTel:
914.217.9533
Chaiti SenEmail: chaiti.sen@mastercard.comTel: 914.263.6542
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