According to Mastercard SpendingPulse, U.S. retail sales, excluding automotive, are projected to grow by 3.7% year-over-year during the upcoming holiday season from Nov. 1 to Dec. 24. This forecast reflects the enduring resilience of consumers. The 2023 holiday season is expected to bring about a broader rebalancing across categories, channels, and sectors in line with macroeconomic trends.
Key trends to watch include a surge in digital shopping, a focus on electronics and tech, and sustained growth in the restaurant sector, which is anticipated to outpace grocery spending. Personalized promotions and in-store experiences are emphasized as crucial strategies for retailers to capture consumer spending.