Boosted by in apparel sales, the e-commerce business in the United States jumped 18.3 percent year-over-year in the period from November 1 through December 24, 2018, says a recent report by Mastercard SpendingPluse, which provides insights into overall retail spending trends across all payment types.
Consumers are on track to spend more online than ever before this holiday season, with a gain of 19.1 per cent as compared to 2017, stated the report.
Online sales on Black Friday increased by 28.4 percent year-over-year.
Despite weather challenges, this was a winning holiday season for retail overall. The wintry weather on the East Coast helped bolster Black Friday online sales – especially during the traditional morning doorbuster sales.
Apparel segment had a strong season with a growth rate of 7.9 percent compared to 2017, recording the best growth rate since 2010.
Notably, the category followed through on a strong momentum that started during the back-to-school season and accelerated through fall right up to Christmas.
Home improvement, up by 9 percent, spending continued to surge across the US with spending during the holiday season.
The study pointed out that e-commerce has been gaining volume over the last several years as online spending continued to diversify across Thanksgiving week and the entire month of November.
“From shopping aisles to online carts, consumer confidence translated into holiday cheer for retail,” said Steve Sadove, Senior Advisor, Mastercard.