News

Consumers take holiday spending online

December 25, 2018

As of Dec. 19, U.S. consumers were on track to spend more online than ever before this holiday season, with an increase of 18.3 percent year-over-year expected in the period beginning Nov. 1, according to Mastercard SpendingPulse.

SpendingPulse provides insights into overall retail spending trends across all payment types, including cash and check.

"Online shopping is experiencing a surge boosted by strong growth in apparel, department store and jewelry e-commerce sales," Steve Sadove, a senior advisor for Mastercard, said in a press release. "A mix of early deals and cold weather helped drive shoppers online."

Here’s a look at the online holiday shopping trends year over year, according to SpendingPulse:

E-commerce

• The share of e-commerce retail sales reached 13 percent of retail for the period, a new record for online penetration.
• Apparel posted a 16.5 percent growth rate; department stores, electronics and jewelry saw growth of 7 to10 percent.

Black Friday 

• Online sales on Black Friday grew 28.4 percent.
• Wintry weather on the East Coast helped bolster Black Friday online.
• Department stores saw the highest growth in online sales at 28.5 percent, followed by apparel, which grew 25.1 percent.

Cyber Monday

• Online sales topped 29 percent growth.
• Specialty apparel grew more than 20 percent.
• Department store e-commerce sales provided a 4 percent lift to the sector overall for Cyber Monday.