(Image Source: Business Times)
Powered by a pandemic-driven shift towards online shopping, MasterCard’s report found that US retail sales went up by 3% during this holiday season.
US e-commerce sales also surged by 49% during this holiday season while the holiday e-commerce sales made up 19.7% of total retail sales this year.
Retailers like Walmart, Target, and Amazon had to push their holiday promotions out as early as Thanksgiving so that they could distribute the holiday season volume across the season.
“This was a healthier holiday season than many had forecast,” said Steve Sadove, Senior Adviser for Mastercard.
The new shopping habit in consumers will continue to boost e-commerce sales moving into 2021, with more retailers embracing technology to offer consumers new ways to shop.