Holiday Spending Trending Higher Than Expected

Consumers are spending more this holiday season than they have in years, according to the 2017 Mastercard SpendingPulse report. MasterCard expects U.S. spending to be 5% more than the 2016 holiday cycle, making this holiday one of the best for retailers in more than a decade.

The most recent holiday shopping update evaluated spending from Nov. 1 through Dec. 9 and found consumers spent 3.6% more than a year ago.

“When we look at holiday spend, it’s easy to see that 2017 will likely be a good year for retailers. Unemployment is at 4.1%, wages are rising, consumers are confident. It is all playing out in the shopping picture this holiday season as retailers and gift recipients would want it to,” said Sarah Quinlan, senior vice president of market insights at Mastercard.   MORE

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