2018 Holiday Sales Set 6-Year High, Retail Sales Increased Over 5-Percent From 2017

Online sales increased over 19% from 2017

ABOVE VIDEO: Shoppers expected to spend big this holiday season.

(CBS NEWS) – Americans buoyed by a strong economy pushed holiday sales growth to a six-year high.

Retail sales rose 5.1 percent between Nov. 1 and Dec. 24 from a year ago, according to Mastercard SpendingPulse, which tracks spending online and in stores across all payment types, including those who paid by cash or check. Total sales topped $850 billion this year, Mastercard said.

“From shopping aisles to online carts, consumer confidence translated into holiday cheer for retail,” said Steve Sadove, a senior adviser at Mastercard and the former CEO of the department store chain Saks.

Online sales continued to grow, up more than 19 percent from a year ago. Last week, Mastercard said online sales made up 13 percent of total retail sales.

Online retail bellwether Amazon reported on Monday that it notched a “record-breaking” holiday sales season, which pushed its stock up around 7 percent by Wednesday afternoon.

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