Report shows holiday retail sales are up this year, largely fueled by online shopping
COLUMBIA, SC (WOLO)– According to a report from Mastercard SpendingPulse, holiday retail sales are about 3% higher this year compared to last year. Online spending is up 49%, and the pandemic appears to be boosting sales of furniture and home improvement items.
Meanwhile, department stores and clothing brands are struggling. Another trend is that more people bought holiday gifts in advance this year, instead of waiting until the last minute. That might be due to a longer shopping season, with deals starting months ago on Amazon Prime Day.