Report: Holiday Sales Growth May Exceed Expectations

Predictions of a strong holiday season for retailers may prove true with figures from Mastercard Advisors showing sales from November 1 through Christmas Eve up nearly 5%, according to a report from Reuters.

Mastercard figures show shoppers spent more than $800 billion from November 1 through December 24, an increase of 4.9% over 2016. The figure excludes sales of automobiles.

In October, the National Retail Federation predicted a holiday sales increase of between 3.6% and 4%.

Mastercard said online sales were up 18.1% during the holidays, but officials said that e-commerce accounts for only between 11% and 12% of total retail sales.