December 26, 2018
Holiday sales from before Thanksgiving through Christmas increased 5.1% to more than $850 billion this year — the strongest growth in the last six years, according to the Mastercard SpendingPulse report, which covers overall retail spending trends across all payment types, including cash and check.
Online shopping also saw large gains of 19.1 percent compared to 2017, according to the report, which details holiday shopping from Nov. 1 through Dec. 24.
“From shopping aisles to online carts, consumer confidence translated into holiday cheer for retail,” said Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks Inc. “By combining the right inventory with the right mix of online versus in-store, many retailers were able to give consumers what they wanted via the right shopping channels.”
Poor weather did pose an issue during some primetime shopping periods, the study found. This included cold weather on Black Friday morning on the East Coast and wet weather conditions the weekend of December 15-16 on both the East and West coasts. Also, storms Dec. 21 in the East with storms impacted the final run of the season.
The findings are based on aggregate sales activity in the Mastercard payments network, coupled with survey-based estimates for certain other payment forms, such as cash and check.