PURCHASE, N.Y.— U.S. retail sales excluding automotive increased +3.1% year-over-year this holiday season, according to preliminary insights from Mastercard SpendingPulse data for Nov. 1-Dec. 24.
Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment and is not adjusted for inflation.
The data show key retail trends this holiday season included:
- Shopping Extravaganzas In-Store & Online. Online retail sales increased +6.3% YOY while in-store sales were up a more modest +2.2% YOY. Spending online is increasing at a faster pace than in-store, therefore taking a growing slice of the retail pie, but shopping in-store still makes up a considerably larger portion of total retail spending, Mastercard said.
- Winter Wardrobe Wonderland. Apparel was one of the top categories for shoppers this season as consumers shopped for new outfits and upcoming holiday festivities. The sector was up +2.4% YOY.
- Season’s Eatings. Culinary celebrations continued as family and friends gathered in restaurants to ring in the holidays. The Restaurant sector was up +7.8% YOY, while Grocery was up +2.1% for the season, according to Mastercard.
Bang for the Buck
“Retailers started promotions early this season, giving consumers time to hunt for the best deals and promotions,” noted Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks. “Ultimately it was about getting the most bang for your buck as consumers spent on a variety of goods and services, resurfacing spending trends from before the pandemic.”
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