During the holiday period, 77% of the total retail payments in the U.S. were made in physical stores, with the value of these payments increasing by 4.1% compared to last year.
Visa Consulting & Analytics (VCA) published its first Retail Spend Monitor report, which provides preliminary data on overall holiday retail spending in the U.S. The total pre-Christmas spending in the country grew by 4.8% compared to 2023. Online purchases accounted for only 23% of payments, although their value increased by 7.1% compared to last year.
During the pre-holiday period, growth was recorded across all product categories, including:
- clothing and accessories (5.0%);
- building materials (4.7%);
- electronics (4.2%).
In addition, Visa analysts noted that retail spending growth during the pre-holiday period was observed globally. The report provides specific data for some countries:
- Brazil (12.2%);
- Australia (7.4%);
- South Africa (7.0%);
- United Kingdom (2.3%).
The data in the study cover all payment forms and include overall activity in the retail sector over a seven-week period starting November 1.
In 2024, Visa played an active role in launching new FinTech products across various sectors, from crypto cards to tools for simplifying cross-border payments.
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