Online shopping sales also grew by a whopping 49% between October 11 and December 24, further confirming how the Covid-19 pandemic has reshaped shopping habits.
The report found that retailers’ increased shopping and shipping benefits led to a drop in last-minute shoppers compared to the previous year, with online shopping sales accounting for 19.7% of all retail sales. Black Friday, a cornerstone holiday marked by unprecedented deals, has landed as the season’s best spend day.
Steve Sadoff, senior advisor to MasterCard and former CEO and chairman of Sachs Incorporated, said in a statement that the increase in sales and shopping dates was “a testament to the holiday season and the strength of retailers and consumers alike.”
“American consumers have turned the holiday season upside down, redefining the ‘holiday home’ in a unique way for 2020. They have been shopping from home to buy a home, which has led to record growth in e-commerce,” Sadoff said.
Despite this, retail offerings including pier pickup and online purchase led to the increased e-commerce sales growth. Apparel sales rose 15.7% and supermarket sales jumped 3.3%, as more shoppers focused their attention and shopping decisions on their homes. The report found that sales of furniture and furnishings increased by 6.2%, while spending on home improvement increased by 14.1%. Sales of electronic and electronic devices also followed suit, increasing by 6%.
The holiday shopping changes underscore how the pandemic’s impact on outdoor activities has prompted shoppers to make more convenient in-home purchases while spending more time at home.
