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IPFS News Link • Holidays

2023 holiday sales figures present a mixed bag for retailers

• The Street

ou may not believe it if you had to stand in line to get some last-minute shopping done, but 2023 holiday retail sales failed to meet some expectations despite positive growth over last season. 

U.S. holiday retail sales (minus auto sales) rose 3.1% year-over-year in the period between Nov. 1 and Dec. 24, according to payment processor Mastercard.

"This holiday season, the consumer showed up, spending in a deliberate manner," said Michelle Meyer, Chief Economist, Mastercard Economics Institute. "The economic backdrop remains favorable with healthy job creation and easing inflation pressures, empowering consumers to seek the goods and experiences they value most."