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Mastercard Report Shows Holiday Shopping Trends

Generali Global Assistance (GGA), a leading cyber protection solutions company, and Mastercard, the world’s second-largest payment network, recently released the results of their fourth-annual Holiday Shopping Identity Theft Survey. The report results show a trend towards online shopping this holiday season, with the coronavirus pandemic being the main reason for this change.

Mastercard Holiday Shopping Survey Findings

According to the survey, 86% of respondents plan to do their holiday shopping online, up 21% from 2019. The report cites the coronavirus (COVID-19) pandemic as the likely culprit for this shift towards online shopping.

The move to online holiday shopping mirrors a decline in brick-and-mortar shopping. Forty-eight percent of respondents claimed they would visit a physical store this holiday season, down 15% from last year.

The other major finding from the GGA/Mastercard survey is that most of those contacted indicate that they will use only one credit card this holiday shopping season. Overall, 62% of respondents stated they intend to rely on one credit card this year. Women (67%) more likely than men (57%) to stick to a single credit card.

“The Pandemic Has Created the Perfect Environment for Scammers”

Paige Schaffer is CEO, Global Identity and Cyber Protection Services at GAA. She believes the shift towards online holiday shopping this year means having a credit card with identity theft protection is now more critical than ever.

In a press release accompanying the report, Schaffer stated that “the pandemic has created the perfect environment for scammers, who are exploiting uncertainty and our more digitally focused reality. 36% of shoppers we surveyed this year indicated that their credit card provider experiencing a data breach was a top concern this holiday season. Our industry-leading identity theft monitoring and resolution solutions are complimentary for Mastercard credit cardholders, giving them peace of mind while they look for stuffing for their stockings this holiday season.”

Mastercard credit card products all feature Mastercard® ID Theft Protection. This feature provides cardholders the ability to track their identity risk level. They can also detect potential fraud through this tool. Thus, it’s effective at providing peace of mind this holiday shopping season.

About Mastercard

Mastercard is the world’s second-largest payment network, behind only Visa. Over 230 million credit cards, debit cards, and prepaid cards bear the Mastercard logo worldwide. The company’s processing network connects consumers, financial institutions, merchants, governments, and businesses in more than 210 countries and territories.

About Generali Global Assistance

Generali Global Assistance has been a leading provider of identity and cyber protection solutions, travel insurance, and other assistance services for more than 35 years. The company offers a full suite of innovative, vertically integrated travel insurance and emergency services. It also provides identity protection solutions and beneficiary companion services. Generali Global Assistance is part of the multinational Generali Group. The corporation has created a presence in 60 countries with more than 71,000 workers over the past 185 years.

Related Article: Should You Use Credit or Debit This Holiday Season?

Featured photo by kreatikar / PixaBay
About: Cory
Cory Santos

Cory is BestCards.com's "Jack of all trades" and resident credit expert, covering all facets of the credit card space. In addition to credit cards, Cory finds that jogging, cats, and memes are essential parts of a balanced day.