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.

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.