Even with the economy at one of its lowest points in history, spending for the holiday season was expected to increase from last year but the final numbers greatly surpassed all predictions. According to SpendingPulse, a MasterCard Advisors service that monitors retail and services sales on a national level, holiday spending hit $36.4 billion in the U.S. The number indicate a 15.4% increase in spending over the 2009 season. “Today eCommerce accounts for a much larger share of overall retail sales compared to a few years ago. And during this holiday season, it registered double digit growth for 6 out 7 weeks,” said Michael McNamara, VP for MasterCard for MasterCard Advisors SpendingPulse, in a statement. Six times during this holiday season online spending reached over $1 billion, compared to 2009 where it barely made the mark three times. The full press release can be found below.

Press Release:

SpendingPulse 2010 Holiday Full-Season eCommerce Report: eCommerce Spending Up 15.4% Reaching $36.4 Billion

2010 Season Saw Six Days with More than $1 Billion in Sales

PURCHASE, N.Y.–(BUSINESS WIRE)–MasterCard Advisors: A macroeconomic indicator, SpendingPulse reports on national retail and services sales and is based on aggregate sales activity in the MasterCard payments network, coupled with survey-based estimates for all other payment forms, including cash and check. MasterCard SpendingPulse does not represent MasterCard financial performance. SpendingPulse is provided by MasterCard Advisors, the professional services arm of MasterCard Worldwide.

MasterCard Advisors’ SpendingPulse, a macroeconomic report tracking national retail and services sales, today provided summary results for eCommerce sales over the full 2010 holiday shopping season. During the period October 31 to December 24, U.S. consumers spent an estimated $36.4 billion, a 15.4% year-on-year increase over the 2009 holiday season.

“Today eCommerce accounts for a much larger share of overall retail sales compared to a few years ago. And during this holiday season, it registered double digit growth for 6 out of 7 weeks,” noted Michael McNamara, Vice President, for MasterCard Advisors SpendingPulse. “In terms of sub-categories, apparel was the clear leader, helping increase the channel’s overall lift. In terms of share, online apparel sales during the holiday season accounted for 18.8% of total sales in that category, compared to 16.9% in 2009. As for some of the other sub-sectors, online electronics, not surprisingly, also recorded significant gains, while Jewelry, although still in positive territory, lagged behind.

In terms of highlights, there were 6 days in the 2010 season that surpassed $1 billion in sales compared with 3 days in 2009. Top days included Tuesday November 30, which registered $1.16 billion in sales, and Wednesday December 1, registering $1.13 billion. The Monday after Thanksgiving generated $999.3 million in sales, a 25.3% increase compared to the Monday after Thanksgiving in 2009.

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[Source: MasterCardAdvisors]

Authors: V_Geek

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