According to preliminary insights from Mastercard SpendingPulse, US retail sales, excluding automotive, increased 3.8% year-over-year from November 1 through December 24. Mastercard SpendingPulse measures in-store and online retail sales, representing all payment types and is not adjusted for inflation. “The holiday shopping season revealed a consumer who is willing and able to spend but driven by a search for value as can be seen by concentrated ecommerce spending during the biggest promotional periods,” said Michelle Meyer, Chief Economist, Mastercard Economics Institute. “This holiday season, we saw consumers motivated by deals and retailers respond with promotions to meet the demand,” said Stephen Sadove, senior advisor for Mastercard and former CEO and chairman of Saks Incorporated. https://lnkd.in/d8AYB_s2
