Restaurant and Apparel categories recorded the highest sales increase of 7.8% and 2.4%, respectively. Credit: sasirin pamai/Shutterstock.com.

US retail sales, excluding automotive, has grown 3.1% year-over-year (YoY) during the holiday period from 1 November to 24 December.

This increase was revealed in a report by Mastercard SpendingPulse, which provides preliminary insights on national retail sales across all the payment types in specific markets globally.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Mastercard SpendingPulse tracks both in-store and online retail sales across multiple payment forms and the data is “not adjusted” for inflation.

As per the 2023 preliminary insights, online retail sales in the US were up by 6.3% YoY and in-store sales recorded a YoY increase of 2.2%.

The figures further showcase that people are spending more on online shopping platforms, compared to in-store shopping.

However, shopping in-store still takes a notably larger portion of total retail spending, Mastercard added.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Mastercard Economics Institute chief economist Michelle Meyer said: “This holiday season, the consumer showed up, spending in a deliberate manner.

“The economic backdrop remains favourable with healthy job creation and easing inflation pressures, empowering consumers to seek the goods and experiences they value most.”

During this holiday season, Apparel came in as one of the top categories for shoppers, with an increase of 2.4% on YoY basis.

Restaurant sector recorded a YoY rise of 7.8%, while Grocery sector was up by 2.1%.

Retail sales in the Jewellery and Electronics sectors declined by 2% and 0.4%, respectively.

Mastercard senior advisor and Saks former CEO and chairman Steve Sadove said: “Retailers started promotions early this season, giving consumers time to hunt for the best deals and promotions.

“Ultimately it was about getting the most bang for your buck as consumers spent on a variety of goods and services, resurfacing spending trends from before the pandemic.”