U.S. retail spending excluding vehicles rose 3.8% between November 1 and December 24, 2024, according to Mastercard's preliminary SpendingPulse figures. The measure covered online and store purchases across payment methods and was not adjusted for inflation.
Online sales increased 6.7%, compared with 2.9% in physical stores. Mastercard linked the pattern to consumers seeking value during major promotional periods and continuing to use delivery and collection options as part of their holiday shopping.
SpendingPulse combines Mastercard network activity with estimates for other payment methods. The comparison below retains the original release period and definitions; it describes retail spending rather than gift-card sales, redemption or Mastercard revenue. The public release does not give the underlying transaction count, model parameters or uncertainty intervals.
US holiday sales growth by channel in 2024
November 1-December 24, 2024 versus the same dates in 2023; preliminary release December 26, 2024.
% year-over-year spending growth
Tap or hover for details. All values are also available in the data table.
Source
Retail spending excluding automotive, not adjusted for inflation. Preliminary December 26 release values, not later revisions, channel shares or gift-card results.
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| Category | % year-over-year spending growth |
|---|---|
| Online | 6.7 % year-over-year spending growth |
| In-store | 2.9 % year-over-year spending growth |
Several gift categories advanced: jewelry spending grew 4%, electronics 3.7% and apparel 3.6%. Restaurant spending increased 6.3%. The company also reported that the final five days of the measured season accounted for a tenth of holiday spending.
Mastercard economist Michelle Meyer attributed the results to consumers' willingness to spend alongside their search for promotions. The December 26 release distinguished retail-market estimates from Mastercard's own corporate performance; the figures were preliminary and covered the stated holiday period.
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Daniel Brooks
Daniel Brooks covers payment networks, financial technology, payment security, gift card fraud and PCI DSS for Gift Card News.