The pandemic changed consumer shopping habits. Mastercard reports ecommerce sales jumped 49%. What's more, people working from home splurged on home-improvement products, furniture, and electronics. But shoppers spent less on dining out and travel, clothing and jewelry.
2020's holiday season started earlier than usual. Several retailers like Walmart and Target rolled out their holiday promotions early as they faced capacity constraints in certain stores. Amazon.com also pushed back its annual summer promotional event to October.
