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Throughout the holiday season, 77% of all retail transactions in the U.S. occurred in brick-and-mortar locations, with the total value of these transactions rising by 4.1% compared to the previous year.
Visa Consulting & Analytics (VCA) released its inaugural Retail Spend Monitor report, which offers initial insights into overall holiday retail expenditure in the U.S. The total spending prior to Christmas in the nation increased by 4.8% relative to 2023. Online transactions represented just 23% of payments, although their value saw a rise of 7.1% compared to the prior year.
During the pre-holiday timeframe, growth was noted across all product categories, including:
- apparel and accessories (5.0%);
- construction materials (4.7%);
- consumer electronics (4.2%).
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Furthermore, Visa analysts observed that retail spending growth during the pre-holiday season was evident on a global scale. The report includes specific figures for several countries:
- Brazil (12.2%);
- Australia (7.4%);
- South Africa (7.0%);
- United Kingdom (2.3%).
The information in the report encompasses all payment methods and reflects overall activity in the retail sector over a seven-week duration beginning November 1.
In 2024, Visa actively participated in the introduction of new FinTech solutions across various industries, ranging from cryptocurrency cards to tools designed to facilitate cross-border transactions.
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