Get the latest market trends in your inbox
Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul
Tampa-St. Petersburg news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg
Shoppers walk through at The Grove in Los Angeles before Christmas. Photo: Dania Maxwell / Bloomberg
MasterCard announced that U.S. shoppers spent over $800 billion during the 2017 holiday season — the most ever — per Reuters. That's up 4.9% from last year, marking the biggest year-over-year increase in holiday shopping since 2011.
Why it matters: It's finally some good news for sagging department stores with stocks across the industry rising as a result. Mastercard's report pegged online sales as only 11-12% of total retail sales, meaning that the vast majority of Americans did their holiday shopping in traditional brick-and-mortar locations.