US holiday retail sales rise 8.5% as online shopping booms: Mastercard

US ecommerce sales jumped 11% in this year’s holiday
shopping season, according to Mastercard SpendingPulse report, yet again
underscoring the COVID-19 pandemic’s role in transforming customers’ shopping

Shoppers also rushed to stores amid supply chain concerns as
COVID-19 cases surged, sending sales at physical stores up 8.1% compared with
2020, the report added.

“Shoppers were eager to secure their gifts ahead of the
retail rush, with conversations surrounding supply chain and labor supply
issues sending consumers online and to stores in droves,” senior advisor
for Mastercard Steve Sadove said in a statement.

Holiday e-commerce sales made up 20.9% of total retail sales
this year, the data showed, noting that the sector continues to see growth as
consumers enjoy the ease of browsing and buying in the comfort of their homes.

Segments such as jewelry and electronics continued to post
growth, with jewelry sales surging 32% and electronics sales climbing 16.2%
from 2020 levels, the report said.

The SpendingPulse report tracks spending by combining sales
activity in Mastercard’s payments network with estimates of cash and other
payment forms but excludes automobile sales.

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