NEW YORK – Sales for U.S. retailers have increased by about 4% so far this holiday season, according to preliminary figures released by Visa and Mastercard this week.
Shoppers were more deliberate with their purchases, often using artificial intelligence tools to discover and compare prices so that they could stretch discretionary budgets, Visa’s chief economist, Wayne Best, said in a statement.
Michelle Meyer, chief economist at Mastercard Economics Institute, added in a statement that consumers shopped early and leaned on promotions to get the best deals.
The newest figures , drawn from billions of transactions across Visa and Mastercard’s networks, suggested that spending resilience carried into December, according to a Reuters analysis.
What Each Company is Reporting
Visa reported total U.S. retail spending, excluding autos, gasoline and restaurants, rose 4.2% in the Nov. 1 to Dec. 21 period, slightly below its October forecast of 4.6% growth for the full two‑month period.
Mastercard, which included sales at retail and food service establishments in its data, said sales climbed 3.9% year‑over‑year during the same period, topping its prior forecast of 3.6%, Reuters reported. The sets of figures from Visa and Mastercard were not adjusted for inflation.
Both companies noted that early promotions and the convenience of shopping from home helped lift online sales, which outpaced growth at brick‑and‑mortar stores. Still, Visa said physical outlets remained dominant, accounting for 73% of transactions compared with 27% online, the report added.
