Mastercard: Online sales increased 11%, US retail increased 8.5%

A new Mastercard report released on Sunday, December 26, indicates that holiday retail sales increased 8.5% this year for the period from November 1 to December 24.

In addition, online sales increased by 11% compared to last year.

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

Consumers were purchasing items in smaller boxes, such as jewelry, according to the report. And e-commerce sales have done well, accounting for 20.9% of total retail sales, up from 20.6% in 2020.

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

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

In other recent Mastercard news, PYMNTS wrote that the company will acquire McDonald’s personalization platform, Dynamic Yield. The report says the deal will likely be completed in the first half of 2022.

The new technology will enable Mastercard to create a better world of unified consumer engagement and loyalty, allowing customers access to a more personalized experience.

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

Dynamic Yield allows menu recommendations based on factors such as weather changes. The report says quick service restaurants have integrated rewards programs, special offers and food recommendations into new digital apps to cope with more contactless pickup and mobile ordering.

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NEW PYMNTS DATA: 70% OF BNPL USERS USE BANK PAYMENT OPTIONS, IF AVAILABLE

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David A. Albanese