Holiday Sales Up 5% as Online Soars

RAPAPORT... US retail sales increased 5.1% this holiday season, buoyedby a rise in online purchasing, according to Mastercard SpendingPulse. Revenues across all retail categories climbed to more than $850billion for the period from November 1 to December 24, recording the strongestgrowth in six years, the report said Wednesday. Online purchases jumped 19% forthe same period. "From shopping aisles to online carts, consumer confidencetranslated into holiday cheer for retail," said Steve Sadove, senior adviser forMastercard. "By combining the right inventory with the right mix of onlineversus in-store, many retailers were able to give consumers what they wantedvia the right shopping channels." Sales at department stores fell 1.3% following two years ofgrowth under 2%, partly due to branch closures, Mastercard noted. However, departmentstores' online sales jumped 10% this holiday. Among the strongest categories overall were apparel sales,which rose 7.9%, and home improvement, which climbed 9%. SpendingPulse reports on US retail sales across multiple transactionmethods, including Mastercard payment data, and survey results for otherpayment types. Image: Holiday shopping. (Alliance/Shutterstock)