U.S. consumer spending to grow 3.8% in 2024 holiday season, e-commerce sales to grow 6.7%

It is learned that recently, Mastercard released its latest report, which measured online sales of all payment types from November 1 to December 24.

U.S. retail sales grew 3.8% during the 2024 holiday season, reflecting consumers' positive response to early and attractive price promotions. The increase was in line with expectations of retail experts and trade organizations, driven mainly by strong performances in categories such as apparel, jewelry and electronics. Apparel sales grew 3.6%, jewelry grew 4% and electronics grew 3.7%.

The report also pointed out that Americans' dining expenses increased by 6.3%, showing the spending trend of consumers during the holiday season. In addition, consumers showed a high interest in large-scale promotions, especially on e-commerce platforms. E-commerce sales during the holiday season increased by 6.7% year-on-year. This shows that digital shopping and online pickup have become the main choices for consumers.

It is worth noting that the last five days of the holiday season accounted for 10% of all holiday spending, and the shorter shopping period between Thanksgiving and Christmas (only 26 days) led to a surge in evening shopping. Some cities saw particularly significant growth in e-commerce, such as Tampa, Florida, and Phoenix, where e-commerce sales increased by 10.6% and 10%, respectively.

Author✎ Summer/
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