Friday, December 27, 2024 Mastercard SpendingPulseTM reports a 3.8% year-over-year increase in U.S.
retail sales, excluding automotive, for the holiday season spanning November 1 to December 24. This comprehensive analysis tracks both in-store and online retail sales across all payment methods, offering a clear snapshot of consumer spending trends. Unaffected by inflation adjustments, the data highlights steady growth in the retail sector during one of the most critical shopping periods of the year.
With both digital and brick-and-mortar channels contributing to the rise, the results underscore consumers’ continued enthusiasm for holiday purchases despite broader economic challenges. Detailed category and regional insights are anticipated to further illuminate trends, providing valuable perspectives on the performance of the U.S.
retail market during the festive season. “The holiday shopping season revealed a consumer who is willing and able to spend but driven by a search for value as can be seen by concentrated e-commerce spending during the biggest promotional periods,” said Michelle Meyer, chief economist, Mastercard Economics Institute. “Solid spending during this holiday season underscores the strength we observed from the consumer all year, supported by the healthy labor market and household wealth gains.
” Key Retail Trends Shaped the 2024 Holiday Season The 2024 holiday season revealed fascinating consumer behaviors and spending patterns. Here’s a breakdow.
