MasterCard data reveals sluggish holiday sales, +3.1% vs exp 3.7%… Adjusted for inflation, holiday retail sales are negative

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US retail sales rose 3.1% this holiday season — sharp drop from 7.6% last year: report

Inflation-battered shoppers cut back on their holiday spending this year — opening their wallets mainly for “big deals,” according to industry experts and newly released figures.

US retail sales rose just 3.1% year-over-year between Nov. 1 and Dec. 24 — well short of analyst forecasts of 3.7% and less than half of the 7.6% spike recorded last year, according to Mastercard.

Amazon and Walmart ramped up promotions through November to entice bargain-hunting shoppers, but analysts said the discounts were not as deep as the prior year when retailers were saddled with excess stock after the pandemic.

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