US holiday e-commerce sales growth slows down: Report

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U.S. e-commerce sales expanded at a much slower pace in the holiday season of 2021, according to a report issued by Mastercard Inc. on Sunday.

U.S. e-commerce sales from Nov. 1 to Dec. 24 grew 11 percent from the same period of 2020 in comparison with a hefty year-on-year increase of 47.2 percent in the holiday season of 2020, according to Mastercard SpendingPulse reports.

The COVID-19 pandemic resulted in robust expansion of online sales in the United States, but the breakneck growth has slowed down due to economic reopening and fading growth momentum.

E-commerce sales made up 20.9 percent of total retail sales in the holiday season of 2021, slightly higher from 20.6 percent in 2020. By contrast, e-commerce only accounted for 14.6 percent of total retail sales in the holiday season of 2019.

The United States reported 214.6 billion U.S. dollars of e-commerce sales in the third quarter of 2021, up 6.6 percent year on year, much lower than 36.1 percent of year-on-year expansion in the same period of 2020, according to adjusted statistics issued by the U.S. Department of Commerce on Nov. 18.

The share of e-commerce in total retail sales even declined gradually from 13.8 percent in Q3 of 2020 to 13 percent in Q3 of 2021, according to the U.S. Department of Commerce.

However, e-commerce sales in the holiday season of 2021 still posted a higher growth rate than 8.1 percent expansion of in-store retail sales, according to the Mastercard report.

The e-commerce channel continues to experience elevated growth as consumers enjoy the ease of holiday browsing and buying in the comfort of their own homes, said the report by Mastercard.

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