PURCHASE, N.Y.—Retailers have had a lot to cheer about this holiday season.
According to Mastercard SpendingPulse, holiday retail sales increased 3.4% (excluding auto) with online sales growing 18.8% compared to 2018.
“E-commerce sales hit a record high this year with more people doing their holiday shopping online,” said Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks, Inc. “Due to a later than usual Thanksgiving holiday, we saw retailers offering omnichannel sales earlier in the season, meeting consumers’ demand for the best deals across all channels and devices.”
The Mastercard SpendingPulse report details holiday shopping from Nov. 1 through Dec. 24. Key findings of the report indicate it’s been a winning holiday season for retail, especially for e-commerce:
- Total apparel saw a gain, posting 1% growth year over year. The category also experienced stronger than expected e-commerce growth, up 17% compared to 2018.
- The jewelry sector experienced 1.8% growth in total retail sales, with online sales growing 8.8% – supporting eCommerce strength. This trend started before the holiday season and helped the sector power through to its finish, Mastercard said.
- Department stores saw overall sales decline 1.8% and online sales growth of 6.9%, emphasizing the importance of omnichannel offerings.
- Electronics and appliances were up 4.6%, while the home furniture and furnishings category grew 1.3%.