Luxury consumption and e-commerce both jumped in February, according to data released March 3 by MasterCard.
After a largely positive January, MasterCard Advisors’ SpendingPulse reported that the rise in US online spending continued in Feb, up 16.7 % year-on-year.
Although the severe weather may have contributed to this rise, the firm added that February’s excellent results capped seven straight months of double-digit online spending growth.
In a sign that online purchasing is becoming ever-more common, the average transaction size fell, suggesting that people are willing to make smaller purchases over the internet.
Luxury sales (excluding jewelry) also showed a large rise of 15.2 percent between February 2009 and 2010, following a gain in December of 5.5 percent and again in January of 8.1 percent.
Sources: AFP – Mastercardadvisors.com
