This is excluding automobiles.
According to a Mastercard report, this year’s holiday season sales in the US have seen a 3.4% increase (excluding automobiles). There was an 18.8% rise in ecommerce sales compared to 2018. The category accounts for 14.5% of the total retail this season.
Within ecommerce, categories such as jewellery, electronics and department stores grew by 8.8% year-on-year, 10.7% and 6.9%, respectively. Black Friday saw consumer spending of $7.4 billion online, with ecommerce accounting for 15.4% of the overall retail spending and 24.5% on Cyber Monday.
Despite improved spending through department stores’ online portals and omnichannel innovations, the report revealed a 1.8% decline in department store receipts. Steve Sadove, senior advisor for Mastercard says that people’s behavioural changes like researching whatever they buy, involving friends and sharing photos on Instagram are “reinforcing the continued growth of ecommerce”.
[2 minute read]