MasterCard Canada has released its first insights on total retail sales across all payment forms in Canada for the past year, according to the Canada Free Press.

SpendingPulse, a macroeconomic indicator and product of MasterCard, released the report, which highlighted specific industry sectors, as well as general spending trends among Canadian consumers. The research was based on aggregate sales activity within the MasterCard payments network, as well as estimates for cash and cheque transactions. The latest edition of the report spotlighted modest growth of 2.2 percent through the first six months of 2012. However, e-commerce spending demonstrated tremendous growth, rising 24.9 percent compared to the first six months of 2011. This was the ninth consecutive month where e-commerce company sales have grown above the 20 percent threshold.

"While overall retail sales growth in Canada has been modest through the first half of the year, the e-commerce growth rates are truly impressive," Michael McNamara, Vice PResident of Research and Analysis for MasterCard Advisors SpendingPulse, told the news source. "The growth in online sales is a good indicator of how Canadian retailers are capitalizing on the shift of sales from brick and mortar locations to online sales channels."