Mastercard SpendingPulseTM,  which provides insights into overall retail spending trends across all payment types, including cash and check, said that according to its calculations holiday retail sales this year increased 3.4%  (ex auto) with online sales growing 18.8% compared to 2018.  E-commerce also took a larger share of the holiday sales pie, accounting for 14.6% of retail sales this holiday season.

“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 Incorporated. “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 November 1 through December 24. “Key findings of the report indicate that this was a winning holiday season for retail, especially for e-commerce,” Mastercard said in a statement.

According to the report, the jewellery sector saw a 1.8%  increase in total retail sales, with online sales growing 8.8%. “This trend started before the holiday season and helped the sector power through to its finish,” Mastercard noted.

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