Despite expectations of cautious consumer spending, retailers succeeded in boosting holiday season sales through strategic promotions, according to Mastercard SpendingPulse. Total spending from November 1 to December 24 increased by 3.8 percent, surpassing the projected 3.2 percent growth and last year’s 3.1 percent. Online shopping was particularly strong, with a 6.7 percent rise, compared to a modest 2.9 percent increase in-store. The final five days of the season were especially significant, contributing 10 percent to overall holiday sales.
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