Mastercard's Economics Institute projected 2.9% growth in European holiday retail spending for November and December 2024, excluding vehicle sales. The November 20 outlook identified beauty, clothing and electronics as important gift categories in a market still focused on value.

For the November 1 to December 24 gifting period, the institute expected electronics spending to rise 4.7% in the UK and 3.9% in Germany. Its separate Black Friday projections also pointed to relatively strong clothing demand in Hungary, Spain and the

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