E-commerce Sales Jump Nearly 50% This Holiday Season

 E-commerce Sales Jump Nearly 50% This Holiday Season 

BY TYLER DURDEN MONDAY, DEC 28, 2020 - 12:05 Submitted by Market Crumbs, 

With the holiday shopping season now officially in the books, Mastercard on Saturday gave a look into what consumers shopped for this year.

Using aggregate sales activity in the Mastercard payments network and survey-based estimates for other payment forms such as cash and check, MasterCard SpendingPulse found that U.S. retail sales excluding automotive and gasoline jumped 3% during this year's holiday shopping season, which ran from October 11 through December 24.

With many people continuing to stay at home as a result of Covid-19, it's not surprising that online sales jumped by 49% compared to last year. E-commerce accounted for 19.7% of overall retail sales during this year's holiday shopping season compared to 13.4% in 2019.

Given people are spending so much time at home, home furniture and furnishings was the biggest winner, showing the largest growth of any sector as sales jumped by more than 16% from last year. Home improvement also saw a boost as sales increased by more than 14% from last year as e-commerce sales jumped by nearly 80%.

"American consumers turned the holiday season on its head, redefining 'home for the holidays' in a uniquely 2020 way. They shopped from home for the home, leading to record e-commerce growth," Mastercard senior advisor Steve Sadove said. "And, consumers shopped earlier than ever before. Across our expanded 75-day holiday shopping season, sales were up 3.0%, a testament to the holiday season and strength of retailers and consumers alike."

Department stores continue to lose their luster as sales fell by more than 10% from last year. Department stores saw their e-commerce sales grow by just over 3% compared to 2019.

Despite seeing overall sales decline by more than 16% from last year, Black Friday remained the top shopping day of the season by spend while the day after came in the second spot. December 12 and 11 rounded out the next two spots as consumers rushed to take advantage of "guaranteed by Christmas" offers.

Consumers appeared to have their shopping done early this year, as the Monday before Christmas didn't even make the top 10 this year after being the third-biggest shopping day in 2019.

With Mastercard providing a glimpse into this year's holiday shopping season, investors will now look forward to earnings season to see which companies were the big winners this year.

https://www.zerohedge.com/economics/e-commerce-sales-jump-nearly-50-holiday-season 

Comments

Post a Comment

Popular posts from this blog

BMW traps alleged thief by remotely locking him in car

BMW traps alleged thief by remotely locking him in car Stealer's Wheel? Seattle police department quotes "Watchmen" movie in a recap of the recent arrest. Tech Culture by Gael Fashingbauer Cooper December 4, 2016 5:00 PM PST It's maybe the most satisfying arrest we can imagine. Seattle police caught an alleged car thief by enlisting the help of car maker BMW to both track and then remotely lock the luckless criminal in the very car he was trying to steal. Jonah Spangenthal-Lee, deputy director of communications for the Seattle Police Department, posted a witty summary of the event on the SPD's blog on Wednesday. Turns out if you're inside a stolen car, it's perhaps not the best time to take a nap. "A car thief awoke from a sound slumber Sunday morning (Nov. 27) to find he had been remotely locked inside a stolen BMW, just as Seattle police officers were bearing down on him," Spangenthal-Lee wrote. The suspect found a ke...
Read more

Report: World’s 1st remote brain surgery via 5G network performed in China

World’s 1st remote brain surgery via 5G network performed in China Published time: 17 Mar, 2019 13:12 ·           A Chinese surgeon has performed the world’s first remote brain surgery using 5G technology, with the patient 3,000km away from the operating doctor. Dr. Ling Zhipei remotely implanted a neurostimulator into his patient’s brain on Saturday, Chinese state-run media  reports . The surgeon manipulated the instruments in the Beijing-based PLAGH hospital from a clinic subsidiary on the southern Hainan island, located 3,000km away. The surgery is said to have lasted three hours and ended successfully. The patient, suffering from Parkinson’s disease, is said to be feeling well after the pioneering operation. The doctor used a computer connected to the next-generation 5G network developed by Chinese tech giant Huawei. The new device enabled a near real-time connection, according to Dr. Ling.  “You barely feel that th...
Read more

New ATM's: withdraw money with veins in your finger

New cash machines: withdraw money with veins in your finger Cash machine technology that reads the pattern of finger veins is already available in Japan and Poland   By Telegraph Reporters 6:59PM BST 15 May 2014 Cash machines could soon be installed with devices that identify customers by reading the veins in their fingers. The technology is already being rolled out in Poland, where 1,730 cash machines will this year be installed with readers, negating the need for a debit card and Pin. Developed by Hitachi, the Japanese electronics firm, the machines read the patterns of the veins just below the surface of the skin on your finger using infra-red sensors. The light is partially absorbed by haemoglobin in the veins to capture a unique finger vein pattern profile, which is matched to a profile. The technology is used by Japanese banks and also in Turkey, offering “groundbreaking levels of accuracy and speed of authentication”, Hitachi said, which in t...
Read more