MasterCard: Holiday Sales See Minor YOY Growth

New data from MasterCard SpendingPulse finds that holiday season retail sales grew 2.3 percent in 2013, Reuters reported on December 23.

Notably, the report found that jewelry and apparel sales saw the most growth, while luxury and electronics purchases largely remained flat year-over-year.

“Having six fewer shopping days between Thanksgiving and Christmas, as well as bad weather in some parts of the country for the final two weekends of the season clearly had an effect on sales,” Sarah Quinlan, MasterCard Advisors’ vice president of market insights, said in a statement. “Yet holiday sales were a clear improvement over last year’s weaker numbers.”

A separate report from ShopperTrak revealed that this increase was largely driven by a 37 percent increase in online sales over the final weekend before the holidays, AllThingsD reported. This uptick may have helped offset the 3.1 percent decline in in-store spending and 21 percent plunge in foot traffic also observed by the report.

For a look back at MasterCard’s predictions for retail, apparel and luxury spending heading into the holiday season, read our full report here.

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.

——————————

LATEST PYMNTS REPORT: MARCH 2020 B2B API TRACKER  

B2B APIs aren’t just for large enterprises anymore — middle-market firms and SMBs now realize their potential for enabling low-cost access to real-time payments and account data. But those capabilities are only the tip of the API iceberg, says HSBC global head of liquidity and cash management Diane Reyes. In this month’s B2B API Tracker, Reyes explains how the next wave of banking APIs could fight payments fraud and proactively alert middle-market treasurers to investment opportunities.

Click to comment

TRENDING RIGHT NOW