Visa Report: Holiday Retail Spending Rises 4.2%, Fueled by E-commerce and Electronics
Summary
U.S. holiday retail spending grew 4.2% year-over-year, driven by strong online sales and demand for electronics, according to preliminary Visa data. While in-store shopping dominated total volume, e-commerce was the key growth engine.
Key Points
- Overall Growth: Retail spending increased 4.2% (not adjusted for inflation). Adjusted for inflation, real growth is estimated at about 2.2%.
- Channel Split: E-commerce spending surged 7.8%. However, physical stores still accounted for 73% of total payment volume.
- Top Category: Electronics sales jumped 5.8%, attributed to demand for high-performance AI-era devices.
- Other Strong Performers: Apparel & accessories (+5.3%) and general merchandise stores (+3.7%) also saw gains.
- Weaker Areas: Home improvement spending declined (-1%), while furniture sales were nearly flat (+0.8%).
- Consumer Behavior: Visa notes a significant shift, with roughly half of surveyed consumers leveraging AI for comparison shopping or gift ideas.
- Sentiment vs. Action: Despite surveys indicating planned spending cuts, actual consumer spending remained resilient.
Visa报告：假日零售额增长4.2%，电商和电子产品是主要动力
简报总结
根据Visa的初步数据，美国假日零售额同比增长4.2%，主要受线上销售强劲和电子产品需求推动。虽然实体店购物占据大部分份额，但电子商务是增长的关键引擎。
关键要点
- 整体增长：零售支出增长4.2%（未调整通胀）。经通胀调整后，实际增长估计约为2.2%。
- 渠道分布：电子商务支出激增7.8%。但实体店仍占总支付额的73%。
- 表现最佳类别：电子产品销售额跃升5.8%，归因于对人工智能时代高性能设备的需求。
- 其他表现良好领域：服装及配饰（+5.3%）和综合商品商店（+3.7%）也有所增长。
- 表现较弱领域：家居装修支出下降（-1%），家具销售基本持平（+0.8%）。
- 消费者行为：Visa指出一个显著转变，约半数受访消费者利用人工智能进行比价或寻找礼物灵感。
- 情绪与行动脱节：尽管调查显示消费者计划削减开支，但实际支出依然保持韧性。
Original Article Link: https://www.cnbc.com/2025/12/23/holiday-retail-spending-visa-report-2025.html