Today, Mastercard reported a fluctuation in U.S. retail sales over the holiday period – rising 3.8% between Nov. 1 and Dec. 24.
The jump in sales was, according to Mastercard’s SpendingPulse report, “higher than a 3.2%” a rise well above a 3.1% increase from a year earlier, with last minute shopping accounting 10% of all holiday spending.
“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.”
Mastercard’s Senior Advisor and former CEO of Saks, Steve Sadove said, “This holiday season, we saw consumers motivated by deals and retailers respond with promotions to meet the demand. The value-minded consumer showed up to shop at brick-and-mortar stores and e-commerce platforms, with retailers managing across both to capture attention throughout the season.”
Mastercard SpendingPulse excludes auto sales. It measures in-store and online retail sales in all forms of payment.
By CEO NA Editorial Staff
