U.S. retail sales during the 2024 holiday season rose 3.8% over last year’s holiday season, as Americans responded to early but steady price promotions. That’s according to data released by Mastercard SpendingPulse, which measured in-store and online retail sales, representing all payment types, for the Nov. 1 to Dec. 24 period. The data excluded automotive sales, and is not adjusted for inflation. 

Consumers focused on apparel, jewelry and electronics, where sales rose 3.6%, 4% and 3.7%, respectively, Mastercard indicated. Americans were also dining out more so than last year, with restaurant spending up 6.3% compared to last year, Mastercard reported. It also indicated that the last five days of the holiday season accounted for 10% of all holiday spending. Apparently, the compressed calendar - 26 days between Thanksgiving and Christmas this year versus 31 last year - sparked a surge in late gift shopping. In other holiday trends cited by Mastercard:

• Online retail sales grew 6.7% year-over-year, whereas in-store sales increased 2.9%.  Consumers increasingly preferred digital-first shopping this year, with e-commerce, curbside pick-up and delivery being ‘top-of-mind.’ 

Apparel led in e-commerce sales, with 6.7% growth for online purchases compared to last year.