- Digital First Media/Orange County Register via Getty Images / Contributor
- Holiday sales grew 5.1% to more than $850 billion this year, according to early data from Mastercard Spendingpulse.
- That’s the best holiday season growth in six years, Mastercard said.
- Online sales grew 19.1% when compared to last year.
Holiday sales posted the its best growth in years, beating expectations.
Sales grew 5.1% to more than $850 billion a year, according to data from Mastercard Spendingpulse. That’s the best holiday season growth in six years, Mastercard said, and beats last year’s number of 4.9% growth.
“From shopping aisles to online carts, consumer confidence translated into holiday cheer for retail,” Steve Sadove, senior advisor for Mastercard said in a statement. “By combining the right inventory with the right mix of online versus in-store, many retailers were able to give consumers what they wanted via the right shopping channels.”
Online shopping also saw a significant increase. Sales grew 19.1% when compared to last year, proving e-commerce is not done taking a bite out of retail. Amazon announced on Wednesday it saw “record-setting” sales during the holiday.
The data for the spending survey came from sales of all types, including credit card, cash, and check. It took data from sales starting November 1 and ending Christmas Eve.
Part of the increasing trend of e-commerce may be due to an increase in retailers offering upgraded versions of buy-online-pickup-in-store – or BOPIS. These orders increased 47%, according to Adobe Analytics between November 1 and December 19.
Broken down into categories, apparel saw a 7.9% jump in sales this year, while department stores sales declined 1.3%. Home improvement also saw an increase of 9%, while electronics and appliances declined 0.7%. Furniture, however, slightly increased at 2.3%.