US holiday retail sales stronger than last year, Mastercard says

[BumRushDaShow]

Source: Reuters

December 26, 2024 2:47 PM EST Updated an hour ago


Dec 26 (Reuters) - Price-conscious holiday shoppers opened their wallets for last-minute online discounts on clothing and stocking stuffers, potentially benefiting retailers that also offered such convenient options as free delivery and curbside pickup.

The popularity of online shopping has surged due to its convenience, similar or lower prices than in-store, the availability of services like "buy online, pick up in-store (BOPIS)" and fast, free deliveries, said Michael Schulman, a retail expert at Running Point Capital Advisors.

"The shortened holidays season this year compared to last year, with a tighter scrunch between Thanksgiving and Christmas, also left less time for in-store retail shopping and probably incentivized more phone and computer browsing and purchases," he said.
While there were deals aplenty, retailers appeared to have been disciplined with promotions. Target (TGT.N) and Dollar Tree's shares were up nearly 3% in noon trading, while Walmart (WMT.N) was flat.

According to a Mastercard SpendingPulse report, online spending during the holiday shopping period from Nov. 1 to Dec. 24 grew by 6.7% over last year, compared to a 2.9% increase for in-store sales. This contributed to a total spending increase of 3.8% over 2023, surpassing the previously forecast rise of 3.2% and topping the 3.1% increase during the same period last year.

Read more: https://www.reuters.com/markets/us/us-holiday-retail-sales-come-above-forecast-mastercard-says-2024-12-26/

[Diamond_Dog]

1. So much for that lousy economy with its expensive eggs!

[Rebl2]

5. Just

what I was thinking.

[Dennis Donovan]

2. Consumerism is no longer my modus operandi...

...survival is.

[sinkingfeeling]

3. I didn't contribute to this increase. In fact, I think I spent less this year (not counting granddaughter's college

tuition) than in the last 20 years.

[OrlandoDem2]

4. Consumerism is what drives the economy. If you can't stand Trump then stop spending.

He will hate it if the economy crashes.

He wants to say the economy was strong under him. I say we don’t let him.

[RedWhiteBlueIsRacist]

6. Just got my bank statement today, and my spending has taken a nosedive

since the election. Hard times are to come once that ass is sworn in.

[AllyCat]

7. Hmmph. Not the economy after all. Just misogyny.

[Aussie105]

8. Credit cards glowing in the dark?

If people are anything like me, they would have restricted discretionary spending during the year a few years back, but promised themselves they would buy themselves something nice to celebrate Xmas.

(Shout out if you went the same way.)

Unfortunately, I found nothing of the nice variety, have been looking but not finding.

Ho Hum, back to being frugal then. Bills suck up too much of my money anyway.

[DoBW]

9. Biden admin economy ....

which trump wiil fck up all over again

[betsuni]

10. No way, everybody whined they were the Cratchit family and Biden was all ARE THERE NO PRISONS? ARE THERE NO WORKHOUSES?

because Democrats totally ignore inequality and the economy and what about the eggs -- that nice Mr. Trump held some rallies in swing states before we could even glance at those sweaters on sale at the store.

[Blue_Tires]

11. So Biden healed the economy just like he said he would...

👍

[Historic NY]

12. Remember the economy sucks

[Emile]

14. That's what they keep saying. I tell them they

need to hire a better financial advisor.

[IbogaProject]

13. Are those real or inflation adjusted?

If real cash spending that is just measuring inflation.