December 24, 2010

Online Sales Rose To $36.4 Billion During Holidays

MasterCard SpendingPulse reported on Thursday that U.S. online shopping jumped 15.4 percent to $36.4 billion during the holiday season.

SpendingPulse said that online sales racked up double-digit growth in six out of seven weeks since October 31.

"Today eCommerce accounts for a much larger share of overall retail sales compared to a few years ago," SpendingPulse's Michael McNamara said in a statement.

The report said that gains were led by apparel, where online shopping accounted for 18.8 percent of overall sales, which was up 16.9 percent since 2009.

The current year's increase is "a very healthy growth rate and one of the positive stories of 2010," MacNamara told The Wall Street Journal.

Online sales account for about 10 percent of all retail sales, excluding purchases of automobile and gas.

SpendingPulse said that department store online sales jumped 11 percent, electronics-store sales rose 12 percent and jewelry retailers' online sales jumped 4.5 percent.


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