Retail and Holiday Spending

NPR reports that 2025 U.S. holiday retail sales for November and December grew by nearly 4% year over year, according to Mastercard estimates, with record Black Friday and Cyber Monday spending despite persistently low consumer confidence. Correspondent Alina Selyukh says higher‑income Americans are increasingly responsible for much of the spending, as many households trade down to discounters and thrift stores while luxury brands such as Ralph Lauren remain strong, and she notes that wage growth and the job market will be key to sustaining consumption in 2026.