Visa Analysis: U.S. Rings in Holiday Retail Spending Growth
Visa reports a 4.8% year-over-year increase in overall U.S. holiday retail spending for 2023, according to its first Retail Spend Monitor. In-store spending accounted for 77% of total payment volume, growing 4.1% compared to 1.6% last year, while online retail grew 7.1% versus 10.3% in 2022.
Key sector performances include: electronics (+4.2%), clothing and accessories (+5.0%), and building materials (+4.7%). Globally, Brazil (+12.2%), South Africa (+7.0%), UK (+2.3%), and Australia (+7.4%) all showed positive growth. The report covers the seven-week period from November 1 and includes data from Visa's payment network combined with survey-based estimates for other payment forms.
Visa riporta un aumento del 4,8% nelle spese festive al dettaglio negli Stati Uniti per il 2023, secondo il suo primo Retail Spend Monitor. Le spese in negozio hanno rappresentato il 77% del totale dei volumi di pagamento, crescendo del 4,1% rispetto all'1,6% dell'anno scorso, mentre il commercio online è aumentato del 7,1% rispetto al 10,3% del 2022.
Le performance chiave dei settori includono: elettronica (+4,2%), abbigliamento e accessori (+5,0%) e materiali da costruzione (+4,7%). A livello globale, Brasile (+12,2%), Sudafrica (+7,0%), Regno Unito (+2,3%) e Australia (+7,4%) hanno mostrato tutti una crescita positiva. Il rapporto copre il periodo di sette settimane a partire dal 1° novembre e include dati dalla rete di pagamenti di Visa combinati con stime basate su sondaggi per altre forme di pagamento.
Visa informa sobre un aumento del 4,8% en el gasto minorista de las vacaciones en EE. UU. para 2023, según su primer Monitor de Gasto Minorista. El gasto en tienda representó el 77% del volumen total de pagos, creciendo un 4,1% en comparación con el 1,6% del año pasado, mientras que el comercio minorista en línea creció un 7,1% frente al 10,3% en 2022.
Las actuaciones clave por sectores incluyen: electrónica (+4,2%), ropa y accesorios (+5,0%) y materiales de construcción (+4,7%). A nivel global, Brasil (+12,2%), Sudáfrica (+7,0%), Reino Unido (+2,3%) y Australia (+7,4%) mostraron un crecimiento positivo. El informe abarca un período de siete semanas a partir del 1 de noviembre e incluye datos de la red de pagos de Visa combinados con estimaciones basadas en encuestas para otras formas de pago.
비자는 2023년 미국의 연휴 소매 지출이 전년 대비 4.8% 증가했다고 보고했습니다. 이는 첫 번째 소매 지출 모니터에 따른 것입니다. 오프라인 지출은 총 결제량의 77%를 차지하며 지난해 1.6% 대비 4.1% 증가했으며, 온라인 소매는 2022년 10.3%와 비교해 7.1% 성장했습니다.
주요 분야의 성과는 전자기기(+4.2%), 의류 및 액세서리(+5.0%), 건축 자재(+4.7%)를 포함합니다. 전 세계적으로 브라질(+12.2%), 남아프리카(+7.0%), 영국(+2.3%), 호주(+7.4%)는 모두 긍정적인 성장을 보였습니다. 이 보고서는 11월 1일부터 시작되는 7주 기간을 다루며, 비자의 결제 네트워크 데이터와 기타 결제 수단에 대한 조사 기반 추정을 포함합니다.
Visa rapporte une augmentation de 4,8 % des dépenses de détail de vacances aux États-Unis pour 2023, selon son premier Rapport de Suivi des Dépenses de Détail. Les dépenses en magasin ont représenté 77 % du volume total des paiements, avec une hausse de 4,1 % par rapport à 1,6 % l'an dernier, tandis que le commerce de détail en ligne a progressé de 7,1 % contre 10,3 % en 2022.
Les performances clés des secteurs comprennent : électronique (+4,2 %), vêtements et accessoires (+5,0 %) et matériaux de construction (+4,7 %). À l'échelle mondiale, le Brésil (+12,2 %), l'Afrique du Sud (+7,0 %), le Royaume-Uni (+2,3 %) et l'Australie (+7,4 %) ont tous montré une croissance positive. Le rapport couvre la période de sept semaines à partir du 1er novembre et inclut des données du réseau de paiement de Visa combinées avec des estimations basées sur des enquêtes pour d'autres formes de paiement.
Visa berichtet von einem Anstieg der Einzelhandelsausgaben in den USA für die Feiertage 2023 um 4,8% im Vergleich zum Vorjahr, basierend auf dem ersten Retail Spend Monitor. Die Ausgaben im Geschäft machten 77% des gesamten Zahlungsvolumens aus und wuchsen um 4,1% im Vergleich zu 1,6% im vergangenen Jahr, während die Online-Einzelhandelsausgaben um 7,1% gegenüber 10,3% im Jahr 2022 anstiegen.
Wichtige Leistungsbereiche sind: Elektronik (+4,2%), Bekleidung und Accessoires (+5,0%) sowie Baustoffe (+4,7%). Weltweit verzeichneten Brasilien (+12,2%), Südafrika (+7,0%), das Vereinigte Königreich (+2,3%) und Australien (+7,4%) alle ein positives Wachstum. Der Bericht umfasst den Zeitraum von sieben Wochen ab dem 1. November und enthält Daten aus dem Zahlungsnetzwerk von Visa, kombiniert mit schätzungsbasierten Erhebungen für andere Zahlungsformen.
- Overall holiday retail spending increased 4.8% YoY
- Strong in-store spending growth of 4.1% vs 1.6% last year
- Online retail growth of 7.1%
- Positive growth across all major retail sectors
- Strong international market performance, particularly in Brazil (12.2%) and South Africa (7.0%)
- Online retail growth decelerated from 10.3% last year to 7.1%
- Increased fraud attempts during Black Friday and Cyber Monday
Insights
The 4.8% year-over-year increase in holiday retail spending, while positive, needs to be viewed through the lens of inflation. With 2023's inflation rate around 3%, the real spending growth is modest at approximately 1.8%. The shift in spending patterns - 77% in-store vs. 23% online - reveals a strong return to brick-and-mortar retail, though online's 7.1% growth suggests continued digital transformation.
The sectoral performance is particularly telling. Building materials' 4.7% growth reversal from last year's decline indicates a robust home improvement market, while electronics' 4.2% growth and clothing's 5.0% increase suggest healthy discretionary spending. The international performance, especially Brazil's 12.2% and Australia's 7.4% growth, positions Visa favorably in emerging markets.
For Visa, these trends translate to increased transaction volume and revenue potential. The doubling of blocked fraud attempts during peak shopping days demonstrates the value of Visa's security infrastructure, likely leading to increased merchant trust and potentially higher processing fees.
The spending data reveals important consumer behavior shifts that could reshape retail strategies. The strong in-store performance contradicts the narrative of retail apocalypse, suggesting retailers need a robust omnichannel presence. The 7.1% online growth, while slower than last year's 10.3%, indicates market maturation rather than decline.
Category-specific trends are particularly insightful. The acceleration in clothing sales from 2.4% to 5.0% suggests a post-pandemic return to social activities and office work. The building materials rebound to 4.7% growth from -3.9% indicates continued investment in home improvement, possibly driven by high housing costs keeping people in existing homes longer.
Visa's fraud prevention metrics demonstrate the growing sophistication of payment security, a critical factor for maintaining consumer confidence in digital payments. The expansion of VCA consulting engagements, nearly doubling year-over-year with
"This holiday shopping season, we’re seeing increasing consumer confidence as people sought out in-store experiences – and went online – to purchase gifts and celebrate the holidays with friends and family,” said Wayne Best, chief economist at Visa. “This spending growth demonstrates the adaptability of both consumers and retailers and the overall strength of the economy.”
Unwrapping the highlights:
-
Consumers headed back to stores: Out of total holiday retail spend in the
U.S. ,77% of total payment volume was in store versus23% online, showing the in-store experience remains important for the consumer. Total retail spend in stores grew at a rate of4.1% (versus1.6% last year). -
Online retail shopping continues to grow: Online retail shopping increased by
7.1% (versus10.3% last year), showing consumers continue to rely on its convenience and ease during the holiday season. -
Consistent electronics sales growth: The electronics sector growth rate increased to
4.2% versus2.8% last year. -
Clothing and accessories are in season: This holiday season saw a
5.0% rise in sales (versus2.4% last year) for clothing and accessories. -
Making homes cozier for the holidays: Building materials sales increased by
4.7% (versus a negative3.9% last year), indicating consumers turned their attention to their homes this year. -
A global spending season: Across the globe, holiday shoppers demonstrated positive activity.
Brazil saw a12.2% year over year increase, whileSouth Africa experienced a7.0% growth in spending. Both regions enjoyed double-digit growth across all five merchant categories. TheU.K. joined the trend with a2.3% rise, andAustralia saw a7.4% increase in overall spend. - Fraudsters are doubling down: Earlier this month, Visa reported that it blocked nearly double the amount of suspected fraud in 2024 versus 2023 during Black Friday and Cyber Monday weekend.
The VCA Retail Spend Monitor reflects the total retail sales activity for the seven-week period starting on November 1 and uses a subset of Visa payments network data in the
The VCA Retail Spend Monitor is produced by Visa Consulting & Analytics, a global network of more than 1,500 consultants, economists, data scientists, and product designers working across 75 countries. In the last year, VCA delivered more than 3,000 consulting engagements, nearly double from the year prior, that helped clients realize an estimated
“With Visa Consulting & Analytics expertise and the power of VisaNet’s data –– representing 234 billion transactions a year, 639 million transactions every day –– our clients make informed business decisions that power their growth,” said Kate Manfred,
To learn more about how Visa Consulting & Analytics can help clients turn data and insights into actionable business decisions, visit here.
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
The views, opinions, and/or estimates, as the case may be (“views”), expressed herein are those of the Visa Consulting & Analytics team and do not necessarily reflect those of Visa executive management or other Visa employees and affiliates. This content is intended for informational purposes only and should not be relied upon for operational, marketing, legal, technical, tax, financial or other advice and do not in any way reflect actual or forecasted Visa operational or financial performance. Visa neither makes any warranty or representation as to the completeness or accuracy of the views contained herein, nor assumes any liability or responsibility that may result from reliance on such views. These views are often based on current market conditions and are subject to change without notice.
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1 The analysis is based on a subset of
View source version on businesswire.com: https://www.businesswire.com/news/home/20241223673631/en/
Stephanie Barnes
press@visa.com
628.278.9327
Source: Visa Inc.
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