U.S. holiday retail sales rise 3% -Mastercard
Retailers rang up more sales in an expanded holiday shopping season in a year that saw a greater shift toward online shopping compared to 2019. Mastercard says retail sales rose 3% in the United States from October 11 to December 24.
The pandemic changed consumer shopping habits. Mastercard reports ecommerce sales jumped 49%. What’s more, people working from home splurged on home-improvement products, furniture, and electronics. But shoppers spent less on dining out and travel, clothing and jewelry.
2020's holiday season started earlier than usual. Several retailers like Walmart and Target rolled out their holiday promotions early as they faced capacity constraints in certain stores. Amazon.com also pushed back its annual summer promotional event to October.
