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U.S. consumers are expected to spend more this holiday season, but much of the increase will be due to higher prices as shoppers remain selective about gifts and travel, according to Visa’s latest outlook.
Retail sales in November and December are projected to rise 4.5 percent from a year earlier, marking the strongest holiday sales growth since 2021, economists at the payments company said in a report released Thursday.
However, much of that growth is expected to reflect higher prices rather than an increase in purchasing activity.
Visa expects prices for holiday-related goods to rise 3.4 percent, leaving inflation-adjusted spending growth of just 1.1 percent, down from 1.3 percent last season….
Retail sales in November and December are projected to rise 4.5 percent from a year earlier, marking the strongest holiday sales growth since 2021, economists at the payments company said in a report released Thursday.
However, much of that growth is expected to reflect higher prices rather than an increase in purchasing activity.
Visa expects prices for holiday-related goods to rise 3.4 percent, leaving inflation-adjusted spending growth of just 1.1 percent, down from 1.3 percent last season….
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