U.S. Holiday Retail Sales Rise 8.5% As Online Shopping Booms -Mastercard

U.S. 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 habits.
U.S. holiday retail sales rise 8.5% as online shopping booms -Mastercard
People ride an escalator while others stand at a mall during holiday season shopping as the Omicron coronavirus variant continues to spread in Brooklyn, New York City, U.S., December 18, 2021. REUTERS/Andrew Kelly

Reuters

U.S. retail sales rose 8.5% during this year’s holiday shopping season from Nov. 1 to Dec. 24, powered by soaring ecommerce sales, a report by Mastercard Inc said on Sunday.

U.S. 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 habits.

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.

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