U.S. holiday spending in 2024 exceeded expectations, showcasing consumer resilience despite high interest rates. Mastercard SpendingPulse reported a nearly 4% increase in retail sales compared to the prior year, surpassing expectations. Online sales surged over 6%, reflecting strong e-commerce activity during promotional periods. Jewelry sales led all categories with a 4% gain, while apparel and electronics also saw steady increases. Holiday spending highlights consumer willingness to spend, strongly focusing on value and e-commerce activity during major promotional periods.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02US holiday spending in 2024 exceeded expectations showcasing consumer reliance despite high
00:08interest rates. MasterCard spending polls reported nearly 4% increase in retail sales
00:13compared to the prior year surpassing expectations. Online sales surged over 6% reflecting a strong
00:19e-commerce activity during promotional periods. Jewelry sales led all categories with a 4%
00:25gain while apparel and electronics also saw a steady increase.
00:29Holiday spending highlights consumer willingness to spend with a strong
00:33focus on value and e-commerce activity during major promotional periods.
00:38Consumer spending accounting for nearly 75% of US economic activity remains a cornerstone
00:45of growth as the economy continues to wither.