US Mastercard report: Sales increase over festive season, apparel leads digital sales

This festive season appeared to be a valuable time of the year for US retailers according to preliminary insights from Mastercard SpendingPulse, which reported a year-over-year uptick in retail sales in the region, with a peak coming in the final five days before Christmas.

According to the data, US retail sales (excluding automotive) rose 3.8 percent YoY from November 1 through December 24, with the last five days of the holiday season accounting for 10 percent of all holiday spending. Chief economist at Mastercard Economics Institute, Michelle Meyer, said the figures aligned with “a consumer who is willing and able to spend but driven by a search for value”.

This was reflected by a particular increase in e-commerce spending, which grew 6.7 percent YoY, while in-store sales climbed 2.9 percent. Apparel led the way in e-commerce sales, showing a 6.7 percent growth for online purchases. Overall, this sector welcomed a spending growth of 3.6 percent. Spending on jewellery, meanwhile, increased 4 percent.

“This holiday season, we saw consumers motivated by deals and retailers respond with promotions to meet the demand,” said Steve Sadove, senior advisor for Mastercard, in a release. “The value-minded consumer showed up to shop at brick-and-mortar stores and e-commerce platforms, with retailers managing across both to capture attention throughout the season.”