Consumers 'showed up' for holiday shopping, boosting sales
Holiday sales rose in 2023 vs. 2022 as a stronger-than-expected economy empowered consumers to make purchases.
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Holiday sales rose in 2023 vs. 2022 as a stronger-than-expected economy empowered consumers to make purchases.
While that’s lower growth than the levels seen last year, it still represents a strong holiday season, experts say.
The big concern: whether shoppers will pull back sharply after they get their bills in January.
Mastercard Incorporated (NYSE: MA) on Tuesday said that U.S. retail sales excluding automotive increased +3.1% year-over-year this holiday season. According to preliminary insights from Mastercard SpendingPulse, online retail sales increased 6.3% year-over-year, while in-store sales were up a more modest 2.2%. "This holiday season, the consumer showed up, spending in a deliberate manner," said Michelle Meyer, Chief Economist, Mastercard Economics Institute. Also Read: Retailers Naughty Or Nice T
Mastercard SpendingPulse said Tuesday that holiday sales rose this year.