75% of clothing is purchased online, and Mastercard believes that online clothing is on the rise

She noted: "Nearly three-quarters of all apparel purchases in February were made online, compared to 47% a year ago." Mastercard research found that overall retail sales in February increased nearly 5% year-over-year in the face of severe weather and the ongoing epidemic.

Mastercard said U.S. apparel sales rebounded sharply last month as consumers changed their spending habits and online shopping surged.

Clothing sales overall fell 5.3% this month , but e-commerce spending did not slow down at all. Data from the Mastercard Economics Institute shows that online clothing sales surged 47% year-on-year. Overall jewelry spending in February, the Valentine's Day month , also increased by 6% compared with the same period last year . Meanwhile, online jewelry sales increased 63%.

The company said the increase in digital sales in both categories was due to a 5% year-over-year increase in overall retail sales in February.

The new data is an early sign that more consumers have adapted to buying clothes and jewelry digitally, a trend Mastercard Inc. expects to continue to build even as economies reopen and more people venture outside.

The rise in apparel sales , after falling 19% in 2020 amid business restrictions and social distancing directives implemented to limit the spread of the coronavirus , is a development that apparel manufacturers had hoped to see , according to research from The NPD Group .

Sales of sweatpants and pajamas did increase amid the pandemic as consumers looked to buy more cozy clothes for staying at home, but the data suggests purchases of dresses could rise as optimism grows about the reopening of the economy .

The credit card company's total revenue fell 9% in 2020, according to FactSet.

The firm found that e-commerce sales surged 54.7% in February compared with the same month last year. It said that while the shift to digital has been years in the making, it accelerated in 2020, two years ahead of schedule.

Mastercard believes there is still plenty of room for growth in e-commerce and contactless payments in physical stores .

“Inside stores, we’ve seen a clear shift toward contactless payments, and what we’re seeing now is consumers embracing digital payments faster than ever before,” Kirkpatrick said. “Consumers have really built a digital commerce force that we think is here to stay . ”

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