Visa Reveals 4.8% Surge in U.S. Holiday Retail Spending
Latest Report Reveals Strong Growth in Both In-Store and Online Shopping
Holiday shopping got a boost this year, with Visa reporting a 4.8% rise in overall holiday retail spending in the United States. This figure, drawn from the new VCA Retail Spend Monitor by Visa Consulting & Analytics (VCA), spans all types of payments and signals growing consumer confidence. As people flocked to physical stores and made online purchases, the holiday vibe became a solid opportunity for retailers, reflecting adaptability and economic resilience.
The data shows that 77% of total payment volume during this year’s holiday shopping happened in-store, indicating customers’ strong appetite for traditional, hands-on shopping. In fact, total retail spending in physical stores grew 4.1% over last year’s 1.6%. This rebound highlights consumers’ desire for personal shopping experiences, even as many still use online channels.
Online Shoppers Still Going Strong
Despite a robust return to stores, e-commerce continued to hold its own. Online retail activity grew 7.1% (versus 10.3% last year), showing that digital shopping remains a key holiday strategy for consumers. Easy checkout, vast product choices, and quick delivery kept the online segment relevant, ensuring it remains a significant part of holiday spending.
Electronics, Fashion, and Home Improvement on the Rise
Holiday spending covered various product categories, from electronics and fashion to building materials. Electronics saw a 4.2% surge, up from 2.8% last year. Clothing and accessories purchases rose by 5.0% while building materials jumped 4.7% after last year’s negative growth. These numbers indicate holiday gift-buying and a focus on home improvement projects during the festive season.
Also Read: Temu Tops UK iPhone Downloads for 2024
The holiday cheer wasn't limited to the US. Visa's report highlighted positive spending activity across the globe:
(i) Brazil led with a 12.2% year-over-year increase
(ii) South Africa saw a 7.0% growth
(iii) Australia experienced a 7.4% rise in overall spend
(iv) The UK joined the trend with a 2.3% increase
“This holiday shopping season, we’re seeing increasing consumer confidence as people sought out in-store experiences – and went online – to purchase gifts and celebrate the holidays with friends and family,” said Wayne Best, chief economist at Visa. “This spending growth demonstrates the adaptability of both consumers and retailers and the overall strength of the economy.”
Visa’s holiday retail data underscores the significance of consumer adaptability, balancing both brick-and-mortar and online experiences. Retailers that quickly adjust to these shifting preferences are poised to thrive.
As we move into 2025, these insights will shape retail strategies, helping businesses better understand and cater to evolving consumer preferences in physical and digital realms.
Also Read: Media Planning for E-commerce Success
Disclaimer:
Visa is the registered trademark of the company.
About ChannelMAX.NET:
ChannelMAX offers Amazon Repricer that runs on the latest AI Repricing algorithm to do Amazon Pricing Management or Amazon Repricing. Based on Amazon SP API, the repricing engine or repricer runs 24/7 and efficiently manages Amazon prices to maximize your BuyBox with profit optimization. Established in 2005, ChannelMAX has been integrated with Amazon technology since 2007, helping thousands of third-party sellers on various eCommerce platforms. Some of the eCommerce platforms, aka marketplaces, supported by ChannelMAX.NET, are Amazon, Walmart, eBay, and Shopify. Some of ChannelMAX key offerings include ChannelMAX Amazon Repricer, 2ndly, ChannelMAX Amazon FBA Audits and FBA Refunds management, an offering for managing Amazon FBA Refunds Reimbursement management for lost or damaged or misplaced inventory for which Amazon is responsible and for which sellers deserve appropriate credit reimbursement from Amazon. ChannelMAX Services offer Remote (aka Virtual) Full-Time eCommerce Assistant to help 3P sellers run their daytoday business.
Check ChannelMAX at Amazon Selling Partner Appstore, an application with a 5 star rating.
By ChannelMAX Staff Writer
Dec-2024#31
Holiday shopping got a boost this year, with Visa reporting a 4.8% rise in overall holiday retail spending in the United States. This figure, drawn from the new VCA Retail Spend Monitor by Visa Consulting & Analytics (VCA), spans all types of payments and signals growing consumer confidence. As people flocked to physical stores and made online purchases, the holiday vibe became a solid opportunity for retailers, reflecting adaptability and economic resilience.
The data shows that 77% of total payment volume during this year’s holiday shopping happened in-store, indicating customers’ strong appetite for traditional, hands-on shopping. In fact, total retail spending in physical stores grew 4.1% over last year’s 1.6%. This rebound highlights consumers’ desire for personal shopping experiences, even as many still use online channels.
Online Shoppers Still Going Strong
Despite a robust return to stores, e-commerce continued to hold its own. Online retail activity grew 7.1% (versus 10.3% last year), showing that digital shopping remains a key holiday strategy for consumers. Easy checkout, vast product choices, and quick delivery kept the online segment relevant, ensuring it remains a significant part of holiday spending.
Electronics, Fashion, and Home Improvement on the Rise
Holiday spending covered various product categories, from electronics and fashion to building materials. Electronics saw a 4.2% surge, up from 2.8% last year. Clothing and accessories purchases rose by 5.0% while building materials jumped 4.7% after last year’s negative growth. These numbers indicate holiday gift-buying and a focus on home improvement projects during the festive season.
Also Read: Temu Tops UK iPhone Downloads for 2024
The holiday cheer wasn't limited to the US. Visa's report highlighted positive spending activity across the globe:
(i) Brazil led with a 12.2% year-over-year increase
(ii) South Africa saw a 7.0% growth
(iii) Australia experienced a 7.4% rise in overall spend
(iv) The UK joined the trend with a 2.3% increase
“This holiday shopping season, we’re seeing increasing consumer confidence as people sought out in-store experiences – and went online – to purchase gifts and celebrate the holidays with friends and family,” said Wayne Best, chief economist at Visa. “This spending growth demonstrates the adaptability of both consumers and retailers and the overall strength of the economy.”
Visa’s holiday retail data underscores the significance of consumer adaptability, balancing both brick-and-mortar and online experiences. Retailers that quickly adjust to these shifting preferences are poised to thrive.
As we move into 2025, these insights will shape retail strategies, helping businesses better understand and cater to evolving consumer preferences in physical and digital realms.
Also Read: Media Planning for E-commerce Success
Disclaimer:
Visa is the registered trademark of the company.
About ChannelMAX.NET:
ChannelMAX offers Amazon Repricer that runs on the latest AI Repricing algorithm to do Amazon Pricing Management or Amazon Repricing. Based on Amazon SP API, the repricing engine or repricer runs 24/7 and efficiently manages Amazon prices to maximize your BuyBox with profit optimization. Established in 2005, ChannelMAX has been integrated with Amazon technology since 2007, helping thousands of third-party sellers on various eCommerce platforms. Some of the eCommerce platforms, aka marketplaces, supported by ChannelMAX.NET, are Amazon, Walmart, eBay, and Shopify. Some of ChannelMAX key offerings include ChannelMAX Amazon Repricer, 2ndly, ChannelMAX Amazon FBA Audits and FBA Refunds management, an offering for managing Amazon FBA Refunds Reimbursement management for lost or damaged or misplaced inventory for which Amazon is responsible and for which sellers deserve appropriate credit reimbursement from Amazon. ChannelMAX Services offer Remote (aka Virtual) Full-Time eCommerce Assistant to help 3P sellers run their daytoday business.
Check ChannelMAX at Amazon Selling Partner Appstore, an application with a 5 star rating.