SAN FRANCISCO — Preliminary data from Visa Consulting & Analytics (VCA) for the 2025 holiday season shows overall retail spending rose 4.2% year-over-year, led primarily by in-store purchases. From November 1 onward, 73% of seasonal payment volume occurred in physical stores, while online sales grew 7.8% due to early promotions and convenience.
The category breakdown indicates mixed performance. Furniture and home furnishings saw modest growth of 0.8%, consistent with seasonal demand. Stronger gains were seen in clothing and accessories (up 5.3%) and electronics (up 5.8%), the latter fueled by demand for high-performance devices. General merchandise stores rose 3.7%, while sales of building materials and garden equipment dipped 1.0%.
Visa’s Chief Economist, Wayne Best, noted that the 2025 season marked a turning point with artificial intelligence becoming integrated into the shopping journey. He stated that AI tools helped create more informed and intentional consumers by shaping product discovery, price comparison, and offer interactions.
The report’s figures, which include all payment types, are not adjusted for inflation.

















