The early reports indicate that retailers enjoyed a very strong year for sales this last holiday period.
Actual results will continue to roll in the remainder of this month and into February. The National Retail Federation, for example, will report outcomes next week.
Preliminary measurements show strong results. The Mastercard SpendingPulse report, which analyzes retail sales across all payment types, showed a 5.1 percent increase in holiday sales last year compared to 2017. Measuring the November 1 through December 19 period, Adobe Analytics placed online spending at $110.6 billion, a year-over-year increase of 17.8 percent.
The trend toward increasing online spending has come to be known as omnichannel, or more ways to shop than simply driving to a store. But this year’s runaway hit earned a new acronym to describe it, BOPIS. The translation is buy online and pick up in the store, or, BOPIS. Though such services aren’t new, shoppers found it the best new way to shop this past holiday season.
Mobile devices also proved increasingly important to increased retail sales. Adobe Analytics reported a 58.3 percent increase in site visits from mobile phones.
Read more on the online news site, Retail Dive.