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Online sales hit record highs in the shortest holiday shopping season since 2013

holiday shopping

  • Online shopping surged to a record high despite the unusually short holiday season, according to a Mastercard report released Thursday.
  • Overall retail sales grew 3.4% year-over-year while online sales spiked 18.8% over the same period, the report said.
  • The holiday season serves as a crucial period for retailers, as traffic can drive up to 40% of yearly revenue, according to Reuters.
  • While department stores saw sales sink 1.8% from the year-ago period, their online sales jumped 6.9% as more consumers turned to e-commerce for better deals between Thanksgiving and Christmas.
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Source:: BusinessInsider.Com