Millions of U.S. shoppers are about to launch an all-out assault within the next few weeks as the 2020 holiday shopping season is in full swing. According to the National Retail Federation, the holiday season is November 1 through December 31 and has forecast that sales will total between $755.3 and $766.7 billion.
Where will all that spending action take place? The modern shopper won’t be driving to the mall or a local shopping center this year. Online shopping is set to to increase between 20 percent and 30 percent to between $202.5 billion and $218.4 billion, up from $168.7 billion last year.
Having safe and convenient, easy-to-use forms of payment makes the holidays happier for everyone. If you are planning to shop in-person or digitally, it’s important to be proactive and work with MTC Federal to keep your information safe.
Source updated on 11/24/20: National Retail Federation