Online Sales Jump 7.8% While 73% Of U.S. Holiday Spend Happens In Stores

How Visa measured the holiday season The VCA Retail Spend Monitor tracked retail activity over a seven-week window starting November 1, 2025, using a subset of U.S. Visa payment network data plus survey-based estimates for cash and other tenders.

The analysis focuses on core retail and excludes categories like autos, gasoline, and restaurants to better isolate true holiday shopping behavior.​ Preliminary results show total U.S.

holiday retail spending up 4.2% year over year across all payment types, unadjusted for inflation, confirming that shoppers continued to spend despite economic headwinds. For brands, this means volume held up, but margin strategy still matters once higher costs and promotions are factored in.​ Store vs.

screen: omnichannel realities In-store shopping remained the anchor of the season, with physical locations capturing 73% of holiday payment volume compared to 27% online…