News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

Retailers Rejoice: Online Holiday Spending Jumps 18%

Retailers Rejoice: Online Holiday Spending Jumps 18%

Paced by online sales, retailers experienced the best year-over-year growth of any holiday season since 2011, according to the Mastercard Spending Pulse. Overall, retail sales grew 4.9 percent from 2016 and online sales increased just over 18 percent from a year ago. According to the data compiled by the Purchase, N.Y.-based card network, last-minute shoppers helped push sales this year: Dec. 23 saw nearly the same amount spent at retailers as Black Friday.

“Evolving consumer preferences continue to play out in the aisles and online sites of retailers across the U.S.,” said Sarah Quinlan, senior vice president of Market Insights for Mastercard. “Overall, this year was a big win for retail. The strong U.S. economy was a contributing factor, but we also have to recognize that retailers who tried new strategies to engage holiday shoppers were the beneficiaries of this sales increase.”

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