U.S. Retail Sales Rise By 3.1% During Holiday Season
U.S. Retail Sales Rise By 3.1% During Holiday Season
U.S. retail sales experienced a 3.1% growth from November 1 through December 24, primarily fueled by enticing online offers and last-minute Christmas deals, as per the Mastercard SpendingPulse preliminary report. Despite the positive uptick, this figure falls short of the 7.6% growth recorded in the previous year.
The report, which encompasses in-store and online retail sales across all payment types, highlights a shift in consumer behavior with online retail sales registering a 6.3% increase compared to last year's 10.6%. In-store sales, on the other hand, rose by 2.2% year-on-year.
The apparel sector emerged as the most popular, witnessing a 2.4% growth, while jewelry and electronics sales experienced a 2% and 0.4% decline, resp...