Data from Mastercard Spending Pulse shows that U.S. consumers’ total spending during the holiday shopping season from November 1 to December 24 this year increased by 3.8% compared with the same period last year (excluding automobiles), exceeding last year’s 3.1% increase. Online shopping expenditure increased by 6.7% year-on-year, exceeding last year's 6.3%; offline consumption increased by 2.9%, exceeding last year's 2.2%.
The last five days of the holiday shopping season accounted for 10% of total spending throughout the entire shopping season, indicating that consumers are waiting for discounts.
Clothing sales have been particularly strong this year, with sales up 3.6%, including a 6.7% increase in online apparel sales. Last year, total clothing sales increased by only 2.4%.
In other areas, restaurant consumption remained strong, with growth of 6.3%, but slower than last year's 7.8% growth.
Sales of electronic products increased by 3.7%, and sales of jewelry increased by 4%, which was a significant improvement from the decreases of 0.4% and 2% respectively in the same period last year. Spending in department stores increased by 1.6%.