Ecommerce, luxury growth leaders in March
Retail Editor 2 -- Home Textiles Today, April 6, 2011
New York - The MasterCard Advisors SpendingPulse report, which tracks retail and services sales growth, reported good increases in March for the ecommerce and luxury sectors.
Ecommerce posted its fifth consecutive month of double-digit growth, with sales up 16.1%.
The Luxury Index, which includes department stores, general apparel categories, and high-end restaurants/food stores, increased 8.5% - the largest year-over-year increase since December 2010 and the sixth consecutive month of growth.
Michael McNamara, vp of research and analysis for MasterCard Advisors, said gas prices are impacting shopping behavior.
"Based on what we've observed in the last three to four years, high gasoline prices typically result in consumers consolidating shopping trips, shopping closer to home, and making fewer trips to the brick and mortar locations as we get to Saturday. On the other hand, we've seen the e-Commerce channel benefitting somewhat from this trend," he said.
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