Recent Holidays Sales Showed Retail Sales Growth

Feb 19, 2020

This the Season

According to Mastercard’s SpendingPulse “Holiday E-Commerce Report.” Holiday retail sales increased by 3.4%, excluding the auto market. E-commerce sales went up 18.8% during the 2019 holiday season. Going up from the 18.4% growth rate of 2018. Mastercard’s research emphasizes how important retailer’s omnichannel strategies are. Cyber Monday was very profitable for Amazon, although they didn’t release exact numbers showing how it compared to pass years.

Amazon isn’t the only retailer doing great with online sales. A December Bloomreach report showed that mobile sales went up 17% and mobile visits were up by 16%. The National Retail Federation released that during the five-day shopping weekend from Thanksgiving through Cyber Monday 189.6 million U.S. shoppers went to stores and retail websites, a 14% rise from 2018. Mastercard found that in total, e-commerce took 14.6% of holiday spending. It was also found that 15.4% of overall retail spending occurred on Black Friday and 24.5% of overall retail purchases happened on Cyber Monday. Department stores saw a 1.8% drop in sales and a 6.9% growth in online sales. 

Looking ahead to Future Sales

The report also shows that specialty apparel e-commerce sales went up by 17% followed up by a 10.7% increase in online electronics sales and an 8.8% growth in online sales of jewelry. “E-commerce sales hit a record high this year with more people doing their holiday shopping online,” Steve Sadove, senior advisor for Mastercard, said in a company statement. “Due to a later than usual Thanksgiving holiday, we saw retailers offering omnichannel sales earlier in the season, meeting consumers’ demand for the best deals across all channels and devices.”

eCommerce and Retail Merchants

If your an eCommerce or Retail merchant in need of a merchant account to help boost sales all year long, reach out to one of our seasoned reps. Give us a call at 800-621-4893 or fill out our no-obligation form today.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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