Holiday retail sales excluding automotive and gasoline increased 3.0% this expanded 75-day holiday season (from Oct. 11 through Dec. 24), as per Mastercard SpendingPulse report.
- "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," senior advisor for Mastercard and former CEO and Chairman of Saks Steve Sadove commented.
- Preliminary insights indicate a 49% Y/Y surge in online sales; e-commerce accounted for 19.7% of overall retail sales vs. ~3.4% in 2019.
- Overall retail spending trends across all payment types, including cash and check.
- With special promotions commencing early, U.S. consumers shopped far earlier than in years past.
- Despite Black Friday reporting drop of 16.1% in total retail sales, Thanksgiving weekend through Cyber Monday remained a key time for shoppers.
- In October last week, Adobe Analytics forecasted U.S. online sales for the months of November and December 2020 will reach $189B (+33% Y/Y); 2019 growth stood at 13%.
- Cyber Week was termed as Cyber Months by Adobe with online sales exceeding $2B/day from Nov. 1 through Nov. 21, and then increase to $3B/day from Nov. 22 through Dec. 3.
- Meanwhile, eMarketer estimated U.S. retail ecommerce sales to surge 35.8% to $190.47B; ecommerce will account for 18.8% of total retail sales.
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