U.S. retail sales excluding automotive products this year increased 3.8% from the prior year for the key holiday sales season of November 1 through December 24, according to payments company Mastercard. Its SpendingPulse survey measures in-store and online retail sales, representing all payment types and is not adjusted for inflation.
While stores have pushed forward their holiday offers, a significant portion of sales still happens last-minute. The last five days of the holiday season made up 10% of all holiday spending, Mastercard observed.
Consumer demand for experiences such as treating themselves to a restaurant meal strengthened in the holiday season. Restaurant spending advanced 6.3% from a year earlier. This season saw an increase in spending growth on goods compared to last year, with apparel (3.6%), jewelry (4.0%) and electronics (3.7%) as notable gifts.