Americans boosted holiday sales by 3.8% this season, from early November through Christmas Eve, as reported by Mastercard SpendingPulse. This growth outpaced the previous year’s 3.1% increase and exceeded the forecast of 3.2%, reflecting a consumer base determined to find value despite higher prices for necessities.
Retailers faced increased pressure to draw customers early, given a five-day-shorter shopping period between Thanksgiving and Christmas. Strategic promotions paid off, especially online, where sales surged 6.7%.
In-person spending rose by 2.9%, while clothing sales grew 3.6%, largely due to e-commerce. Spending on electronics, jewelry, and dining also saw gains, underscoring a season of strategic purchases.
Economic Activity Reflects Shopper Resilience
The last five days before Christmas accounted for 10% of overall holiday spending, showing a strong finish to the season. While auto sales contributed to recent government data highlighting consumer activity, modest gains in other sectors, like grocery and apparel, reflected caution among shoppers.
Economic analysts are closely watching consumer behavior, as nearly 70% of U.S. economic activity depends on spending. Despite challenges such as inflation and a shorter holiday calendar, retailers managed a solid start with early discounts launched as soon as October.
Further insights will emerge when the National Retail Federation releases its two-month sales data for November and December, estimating a total of $979.5 billion to $989 billion in purchases—a 2.5%-3.5% increase compared to last year.
While this marks slower growth than 2023’s 3.9% rise, it reinforces the resilience of holiday spending in a challenging economic climate.
For more political, business, technological and cultural information visit all of our Mundo Ejecutivo platforms.
