Digital Continues Its Record-Setting Run, With E-Commerce Increasing 62.1% YOY
PURCHASE, N.Y.--(BUSINESS WIRE)-- 2021 kicked off with retail gains across nearly all sectors and all 50 U.S. states, according to Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment. This January, U.S. retail sales excluding automotive and gasoline increased 9.2% year-over-year, with online sales growing 62.1% compared to 2020. The momentum of a stronger-than-anticipated holiday season continued throughout the month, with consumer spending buoyed by an infusion of stimulus payments, particularly in the first two weeks of the year.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210204005596/en/
Mastercard SpendingPulse: U.S. Snapshot of Overall Retail Sales and Sector Sales for January (Photo: Business Wire)
At a national level, key retail trends from January include:
Around the country, Mastercard SpendingPulse analysis shows that the overall retail story remains largely positive:
"We’re living in a digital world. For consumers, e-commerce has emerged as a lifeline and a lifestyle. January’s numbers are just further proof of this ongoing trend,” said Steve Sadove, Mastercard senior advisor and former CEO of Saks, Inc. “A big, bright note from January is that consumers are spending. While we know that consumers are also saving their stimulus funds and paying down debt, these numbers show that stimulus is helping to boost sales for retailers around the country."
Building on Mastercard’s commitments to help retailers, restaurants, CPG brands and others assess, navigate and emerge stronger from the effects of the pandemic, key SpendingPulse insights will now be published monthly on www.Mastercard.com/news.
“For governments and businesses of all sizes, access to timely, data-driven insights is critical to decision-making—particularly in times of uncertainty,” said Raj Seshadri, president of data and services, Mastercard. “By sharing economic insights such as SpendingPulse, we hope to enable smarter decisions with better outcomes today and for the long term.”
*Excluding auto and gasoline
About Mastercard SpendingPulse:
Mastercard SpendingPulse™ reports on national retail sales across all payment types in select markets around the world. 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. As such, SpendingPulse™ insights do not in any way contain, reflect or relate to actual Mastercard operational or financial performance, or specific payment-card-issuer data.
Mastercard SpendingPulse defines “U.S. retail sales” as sales at retailers and food services merchants of all sizes. Sales activity within the services sector (for example, travel services such as airlines and lodging) are not included. Holiday spending insights are preliminary.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. www.mastercard.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20210204005596/en/
Media Contacts William Tsang, Mastercard914.249.2640 | William.Tsang@mastercard.com Julia Monti, Mastercard914.217.9533 | Julia.Monti@mastercard.com
Source: Mastercard Investor Relations