In this article
U.S. consumers showed resilience this holiday season, driving retail spending up 4.2% year over year, according to preliminary data released Tuesday by Visa
The report from Visa Consulting and Analytics indicated that despite lingering economic headwinds, shoppers were still spending, particularly on technology and personal goods.
The findings tracked payments activity over a seven-week period beginning Nov. 1 using a subset of Visa payments network data in the U.S. and cover core retail categories, excluding spending on automotive, gasoline and restaurants. The figures are also not adjusted for inflation.
In-store shopping accounted for the bulk of holiday spending, capturing 73% of total retail payment volume during the period, while online purchases made up the remaining 27%.
