Mastercard: Online Sales Grew 11% , US Retail Up 8.5% This Holiday Season

A new Mastercard report released Sunday (Dec. 26) says holiday retail sales were up 8.5% this year for the time between Nov. 1 through Dec. 24.

In addition, online sales were up 11% compared to last year.

According to findings from Mastercard SpendingPulse, customers shopped early and were rewarded with more special deals from retailers. And Thanksgiving weekend became crucial as it had been before – Black Friday showed a top spending day from Nov. 26 through Nov. 28, with retail sales up 14.1%.

Consumers were buying items in smaller boxes, like jewelry, the report said. And eCommerce sales did well, making up 20.9% of total retail sales, a boost from 20.6% in 2020.

“Shoppers were eager to secure their gifts ahead of the retail rush, with conversations surrounding supply chain and labor supply issues sending consumers online and to stores in droves,” said Steve Sadove, senior adviser for Mastercard and former CEO and chairman of Saks Inc. in a statement. “Consumers splurged throughout the season, with apparel and department stores experiencing strong growth as shoppers sought to put their best-dressed foot forward.”

Read also: To Compete With Amazon, Department Stores Need to Think Like a Marketplace

In other recent Mastercard news, PYMNTS wrote the company would be acquiring the McDonald’s personalizing platform, Dynamic Yield. The report says the deal will likely close in the first half of 2022.

The new tech will let Mastercard make a better world of unified consumer engagement and loyalty, allowing customers to access a more personalized experience.

Read more: Mastercard to Acquire McDonald’s Personalization Platform, Dynamic Yield

Dynamic Yield allows for menu recommendations based on factors like weather changes. The report said quick-service restaurants have been incorporating rewards programs, special offers and food recommendations into new digital apps to deal with more contact-free pickup and mobile ordering.