“From shopping aisles to online carts, consumer confidence translated into holiday cheer for retail,” said
The Mastercard SpendingPulse report details holiday shopping from
- Total apparel had a strong season with a growth rate of 7.9 percent compared to 2017, recording the best growth rate since 2010. The category followed through on a strong momentum that started during the back-to-school season and accelerated through fall right up to Christmas.
- Home improvement spending continued to surge across the
U.S.with spending during the holiday season up 9.0 percent. This trend started before the holiday season and helped the sector power through to a strong finish.
- Department stores finished the season with a 1.3 percent decline from 2017. This follows two years with growth below 2 percent, some of which can be attributed to store closings. However, the online sales growth for department stores indicated a more positive story, with growth of 10.2 percent.
- Electronics and appliances were down 0.7 percent. The home furniture and furnishings category grew 2.3 percent.
Poor weather did pose an issue during some primetime shopping periods. This included cold weather on Black Friday morning on the
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Source: Mastercard Investor Relations