Mastercard SpendingPulse’s recent report analysed offline and online spending, excluding automotive and gasoline sector.
In January, the holiday spending drive and stimulus payments boosted US retail sales by 9.2% YoY, as per the report. The study found that online sales increased 62.1%, while spending on Furniture & Furnishing grew +16.6%.
Spends on speciality apparel improved 52.5% online, though the sector experienced an overall decline of 4.3%. Further, the department store sector received some respite with a 1.5% YoY increase in sales and 27.8% growth online.
Southeastern and Western states saw the highest growths, with online sales for California surging by 77.4% and thereby lifting total retail sales by 7.9%. Steve Sadove, a senior advisor at Mastercard, notes the growth emphasises the importance of ecommerce for consumers as a “lifeline and a lifestyle”.
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