Preliminary data from Mastercard SpendingPulse suggested that this holiday season was a profitable time of year for US merchants. The study found that retail sales in the region increased year over year, peaking in the last five days before Christmas.
The data shows that between November 1 and December 24, US retail sales (not including automobiles) increased 3.8 per cent year over year, with the final five days of the holiday season accounting for 10 per cent of total holiday spending. Michelle Meyer, the chief economist at the Mastercard Economics Institute, stated that the numbers were consistent with “a consumer who is willing and able to spend but driven by a search for value.”
Spending on e-commerce increased by 6.7 per cent year over year, while in-store sales increased by 2.9 per cent. With a 6.7 per cent increase in online sales, apparel was the most popular category. Spending in this industry increased by 3.6 per cent overall.
