Holiday retail spending in the U.S. from November 1 to December 24 exceeded prior forecasts, reflecting strong consumer activity despite inflation and higher interest rates. The 3.8% year-over-year increase underscores continued resilience among shoppers, Mastercard SpendingPulse reported.
However, retailers noted a shift in consumer behavior. Describing customers as “selective” and “cautious,” many stores leaned heavily on promotions to attract buyers. Major chains such as Walmart extended price cuts through rollbacks, while Target intensified its promotional campaigns to maintain shopper interest. Dollar General, Kroger, and Five Below also slashed prices to remain competitive, acknowledging the pressure on profit margins.
E-commerce outpaced physical store sales growth, continuing a digital-first shopping trend. Online sales grew at double the rate of in-store purchases, as consumers increasingly opted for convenience. Retailers embraced generative AI tools to enhance customer service and product discovery, while improving curbside pickup and delivery services to streamline the shopping experience.
“Digital innovation and customer-centric strategies played a pivotal role in shaping this holiday season,” noted Steve Sadove, senior adviser to Mastercard and former CEO of Saks.
Despite economic challenges, the 2024 holiday season highlights both the adaptability of retailers and the enduring spending power of American consumers.
After nearly 250 years of serving as a national emblem, the bald eagle has finally been officially designated as the national bird of the United States. This historic decision, signed into law by President Joe Biden, cements the iconic bird's status as a symbol of strength, freedom, and resilience.
U.S. President-elect Donald Trump on Sunday said he would nominate Mauricio Claver-Carone, who was fired from a previous position for allegedly having an affair with a subordinate, to serve as his special envoy to Latin America.
The US said it carried out a series of air strikes against a missile storage site and command facilities in the Yemeni capital Sanaa. The military also reports of a friendly fire incident that led to an American jet being shot down.
Bipartisan agreement ensures continued funding and passage of Social Security reform.
A U.S. government shutdown could cost the travel industry $1 billion per week, disrupt holiday travel, and lead to longer airport wait times, warns the U.S. Travel Association.
Mexico detains 475,000 migrants since October, as President-elect Trump pressures Mexico with tariff threats over illegal border crossings.
NATO boosts Baltic Sea presence after suspected sabotage of undersea cables, while Finland and Estonia investigate Russian-linked ship for causing critical infrastructure damage.
Elon Musk is facing backlash from the right after suggesting the U.S. needs more skilled foreign workers to address a shortage of top engineers. His comments, made amid mass tech layoffs and ongoing debates over the H1-B visa system, have sparked outrage, particularly from pro-Trump conservatives.
The Kremlin has declined to comment on the Azerbaijani Airlines plane crash in Kazakhstan, saying that they are waiting for the official investigation results.
The long-anticipated China-Kyrgyzstan-Uzbekistan Railway Project commenced construction on December 27, marking a pivotal step in enhancing trade and connectivity across Central Asia.
AZAL has released the crew list for flight J2-8243, which crashed in Aktau today.
Farid Huseynov, Head of the AZAL Press Department, has confirmed that a total of 67 people were on board the plane involved in the recent incident, including 62 passengers and 5 crew members.
Apple has requested to participate in Google's upcoming U.S. antitrust trial, arguing that it must defend its lucrative revenue-sharing agreements with the tech giant, which send billions in payments each year for making Google the default search engine on Safari.
Toyota’s global production declined for the 10th consecutive month in November, down 6.2% year-on-year. However, the automaker saw a 1.7% increase in worldwide sales, marking the second consecutive month of growth.
China plans to intensify efforts in 2025 to stabilize its housing market, addressing challenges in the real estate sector, including the rising demand for affordable housing and urban renovations.
President of Türkiye Recep Tayyip Erdogan announced a 30-percent increase in the minimum wage for 2025, raising it to 22,104 lira (about 630 U.S. dollars).
U.S. judge ruled on Friday in favour of Meta Platforms' WhatsApp in a lawsuit accusing Israel's NSO Group of exploiting a bug in the messaging app to install spy software allowing unauthorized surveillance.
Mexico detains 475,000 migrants since October, as President-elect Trump pressures Mexico with tariff threats over illegal border crossings.
NATO boosts Baltic Sea presence after suspected sabotage of undersea cables, while Finland and Estonia investigate Russian-linked ship for causing critical infrastructure damage.
Elon Musk is facing backlash from the right after suggesting the U.S. needs more skilled foreign workers to address a shortage of top engineers. His comments, made amid mass tech layoffs and ongoing debates over the H1-B visa system, have sparked outrage, particularly from pro-Trump conservatives.
The Kremlin has declined to comment on the Azerbaijani Airlines plane crash in Kazakhstan, saying that they are waiting for the official investigation results.
The long-anticipated China-Kyrgyzstan-Uzbekistan Railway Project commenced construction on December 27, marking a pivotal step in enhancing trade and connectivity across Central Asia.
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