Holiday spending rose more than 3% at retailers, as pre-pandemic spending trends returned

U.S. retailers saw sales during the holiday season rise 3.1%, excluding autos, over the same period a year ago, according to the latest Mastercard SpendingPulse report. “This holiday season, the consumer showed up, spending in a deliberate manner,” said Michelle Meyer, chief economist at the Mastercard Economics Institute. The holiday season runs from Nov. 1 through Dec. 24, Mastercard said. Online sales rose 6.3% while in-store sales grew 2.2%, the report said. Among shopping categories, apparel was up 2.4% and grocery increased 2.1%, while jewelry fell 2% and electronics slipped 0.4%. Spending at restaurants rose 7.8%. “Retailers started promotions early this season, giving consumers time to hunt for the best deals and promotions,” said Steve Sadove, a senior advisor for Mastercard. “Ultimately it was about getting the most bang for your buck as consumers spent on a variety of goods and services, resurfacing spending trends from before the pandemic.” The SPDR S&P Retail ETF
XRT,
+0.93%
climbed 0.7% in premarket trading Tuesday, while futures
ES00,
-0.08%
for the S&P 500
SPX,
+0.42%
edged up 0.1%.