- 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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