U.S. Retail Sales Rise 3.8% During Holiday Season

U.S. retail sales rose 3.8% year-over-year from November 1 to December 24, surpassing Mastercard's earlier forecast of 3.2% and the 3.1% increase from the previous year. This growth was driven by intense promotions and last-minute shopping, particularly in the last five days of the holiday season, which accounted for 10% of total holiday spending. Online sales surged by 6.7%, with consumers favoring digital shopping options, while in-store sales increased by 2.9%. Key retail sectors such as apparel, jewelry, and electronics saw notable increases in spending, with restaurant spending also up by 6.3%. The data reflects a consumer trend towards seeking value amidst a competitive retail landscape. Mastercard SpendingPulse's report encompasses all payment types and is not adjusted for inflation.