U.S. retail sales, excluding automotive, rose 3.8% between November 1 and December 24, 2024, according to a Mastercard SpendingPulse report. This indicates a robust holiday shopping season driven by resilient consumer spending.
Customers engaged in last-minute shopping, taking advantage of intense holiday season promotions. Online sales remained a preferred choice for consumers, increasing by 6.7% year-over-year during the period.
The solid spending observed during this holiday season underscores the strength of the consumer throughout the year, supported by a healthy labor market and household wealth gains. This positive trend in retail activity directly benefits payment networks like Mastercard through increased transaction volumes.
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