NEW YORK (AP) — More people did their shopping online this year during one of the shortest holiday shopping seasons in years, helping to push total sales higher.
Retail sales in the U.S. rose 3.4% between Nov. 1 and Dec. 24 compared with last year, according to early data from Mastercard SpendingPulse.
Online sales rose at a faster pace, up 18.8% from last year. Online shopping made up nearly 15% of total retail sales.
Mastercard SpendingPulse tracked spending online and in stores across all payment types, including those who paid by cash or check. Sales of automobiles are not included.
Faced with the shortest holiday shopping season since 2013, stores were trumpeting deals even before Halloween with hopes of getting people to think about Christmas.
Thanksgiving landed on Nov. 28 this year, the latest possible date it could fall. That meant six fewer days than last year, forcing last-minute shoppers to scramble. The Saturday before Christmas was the busiest shopping day in U.S. history, surpassing Black Friday, according to research firm Customer Growth Partners.
Clothing sales rose 1%, Mastercard said. Jewelry sales increased 1.8%. Sales of electronics and appliances rose 4.6%. And furniture sales grew 1.3%.
Department stores, which have been hit hard by the rise of online shopping, still had trouble getting shoppers in their doors: total sales fell 1.8%, Mastercard said.
Former Medtronic CEO and author of 'True North' Bill George explains the steps Boeing leadership must take to regain client and consumer trust after 737 Max 9 production was stopped.
Amazon blamed "regulatory hurdles" for calling off its proposed acquisition of robot vacuum maker iRobot. Not even a Roomba could clean up the deal's antitrust scrutiny.
To celebrate Flutter Entertainment's debut on the NYSE, FanDuel CEO Amy Howe shares her thoughts on the company's plans for growth, the future of online sportsbetting, and Super Bowl Sunday.
Investopedia's Caleb Silver shares thoughts on the upcoming Fed meeting, why individual investors are still slightly skeptical, and what he's looking for from mega cap tech earnings.
Season's greetings! Tax season, that is. January 29 is the first day you can file your tax return. We walk you through each step — plus a checklist you can download.
The Q-Collar helps protect athletes from impact-related concussions. Now, the U.S. Army is evaluating if the device could help reduce traumatic brain injury cased by blast weapons.
Co-founder and executive chairman of the board at Vaxxinity Lou Reese shares how the company is working to bring vaccines for chronic illnesses like heart disease and Parkinson’s to market with an eye for accessibility.
Mario Veneroso, Kingsview Asset Management Partner, weighs in on the latest economic data and whether the market is pricing in too many rate cuts for the coming year.