VISA USA reported that e-commerce spending on VISA cards reached its highest point last week since the beginning of this year. Online sales grew 44.4% to nearly $2.1 billion. Historically, the second week in December each year is the peak period for e-commerce shopping, as shoppers rush to place online orders for delivery before Christmas without incurring additional shipping costs. VISA also reported that total U.S. volume was up nearly 12% to about $23 billion. However, daily growth once again fluctuated due to the snowstorm that hit the East Coast on Sunday, December 14th. On Saturday, December 13th, total volume increased 11.1% from the same day last year, while on Sunday, December 14th, growth was a more modest 5.2%. Overall retail spending volume on VISA cards was $10.1 billion for the week, compared to $9.0 billion for the previous week. Debit card retail spending was $3.5 billion for the week, an 11% jump over the same year-ago period. Credit card retail spending was up 5% to $6.6 billion.
(Week Ending 12/14/03)
Home & Garden $1.4 billion +11%
Speciality Stores $1.8 billion +10%
Personal Entertainment $1.4 billion + 8%
Discount Stores $1.5 billion + 7%
Department Stores $4.0 billion + 4%
Source: VISA SpendTrak