E-commerce spending in April, May topped last 12 Cyber Mondays combined: Mastercard
E-commerce sales increased 92.7% in May as states begin to reopen after coronavirus
U.S. e-commerce spending between April and May topped online spending for the last 12 Cyber Mondays combined, according to Mastercard's first report in its Recovery Insights series.
Online U.S. sales in April and May made up 22 percent of all retail sales, compared to 11 percent in 2019. That percentage represents more online spending than on the last 12 Cyber Mondays combined, according to Mastercard's report.
"The shift to digital ways of shopping has been undeniable, while everything else has been incredibly unpredictable," Steve Sadove, Mastercard senior adviser, said in a statement Wednesday. "The question is what changes will stick around for the long-term."
A man wearing a face mask walks past a hair salon ready to reopen in Arlington, Virginia, on May 28, 2020. (OLIVIER DOULIERY/AFP via Getty Images)
Mastercard estimated an additional $53 billion in e-commerce sales in April and May, according to a press release. E-commerce sales increased 92.7 percent in May as states begin to reopen after the coronavirus pandemic forced businesses to close their doors in accordance with local lockdown restrictions.
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Online hardware spending increased by 36.2 percent compared to 2019, and furniture sales grew 7.5 percent year-over-year in May, the report notes.
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Sadove added that investments in homes and local shops "are two recent trends. Heightened demand for touchless services is another, which could have tremendous impact on what stores actually look like and how they blend their online and brick and mortar footprints."
Amy Witt, owner of the Velvet Window, wipes a credit card reader after completing a sale with a customer at her store in Dallas. (AP Photo/LM Otero)
Online and in-person spending also highlighted an increase in home chef efforts; Mastercard reported a 9.2 percent year-over-year increase in online and in-store grocery purchases in May.
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Mastercard has committed to helping provide insight tools to small businesses and government organizations amid COVID-19.