Skip to content

Deloitte, Mastercard, Predict Increased Customer Spending this Holiday

Studies show customer spending will increase this holiday. Prepare your eCommerce merchant account for a busy holiday season.

Monday, November 15th, 2021

Encouraging predictions about festive season spending show a busy holiday for e-commerce merchants. 

It’s hardly thanksgiving and a growing group of stats, the latest from Mastercard and Deloitte, agree that the future is promising for online business.

Deloitte’s: Online Shopping will Increase this festive season

According to Deloitte estimates, e-commerce spending will go up anywhere between 11 and 15 percent. This figure makes up $218 billion of the $1.3 trillion in buyer spending in Nov and Dec. 

Deloitte is a global business consultancy.

“As more people get vaccinated, consumers will feel safer going outdoors. As a result, spending on services like Restaurant, Hotels, and Travel, will go up this holiday season. The steady drop in savings rate (as seen pre-COVID), will also encourage consumer spending and boost retail sales this festive season” says Daniel Bachman, Deloitte’s US economic forecaster. “Generally, online shopping will increase as consumers continue to buy from the internet across all categories.”

Mastercard Predicts Early Shopping, a Focus on Digital Experiences, and More

Stats from Mastercard, the American multinational financial services corporation, also show a looming rise in e-commerce sales this festive season. Online spending will grow by 11 percent compared to 2020 results, according to the Mastercard SpendingPlus.

The SpendingPulse Next Generation platform is a high-performance intelligence system to study consumer spending patterns in real-time. It helps organizations make decisions based on historical reports and sales forecasts.

And to demonstrate how much the COVID-19 restrictions affected online sales, this year’s forecast represents a 57 percent jump from 2019 festive season spending.

Steve Sadove, the senior advisor for Mastercard, says that this holiday season will be the biggest yet as merchants prepare to meet customer expectations in creative ways. According to the analyst, the 2021 festive season will be characterized by early shopping, higher prices, and a focus on digital experiences.