Holiday Spending Jumps as E-Commerce Beats Brick-and-Mortar

by Admin
2 minutes
Holiday Spending Jumps as E-Commerce Beats Brick-and-Mortar

According to Mastercard’s SpendingPulse report, online retail grew 18.8 percent over last year’s season . That’s enough to form online sales a record 14.6 percent of holiday shoppers' total spending, the report says.

Online consumers this year spent 17 percent more on apparel, 8.8 percent more on jewelry, 10.7 percent more on electronics and 6.9 percent more at department shops . 

Overall, holiday spending jumped 3.4 percent compared to 2018.

The strong numbers came in spite of 2019’s unusually short season , commonly defined because the period between Thanksgiving and yuletide . Shoppers had six fewer days than that they had in 2018 because Thanksgiving came later within the month this year.

Steve Sadove, an advisor for Mastercard, said during a handout that retailers adapted to the shortened season. 

“Due to a later than usual Thanksgiving holiday, we saw retailers offering omnichannel sales earlier within the season, meeting consumers’ demand for the simplest deals across all channels and devices," he said.

Retailers that accepted crypto or managed crypto payments were slow to reply when CoinDesk asked how their holiday shopping season had gone. eGifter, a present card trading service, noted that it had not yet "crunched the numbers" on holiday sales but that the corporate "saw growth in overall crypto sales," said Bill Egan, the site's VP of selling .

"We saw more gifting with crypto in 2019, compared to buy-for-self use cases in prior years," he said.

Payment processor BitPay found the vacations quite inspiring also .

"We saw twice our daily averages of processed volume leading up to the vacation ," said BitPay's CMO, Bill Zielke.