© Reuters. People appearance for discountrates in a regional shop, in New York, U.S., December 25,2023 REUTERS/Eduardo Munoz
(Reuters) -U.S. retail sales increased 3.1% inbetween Nov. 1 and Dec. 24, as consumers looked for last-minute Christmas offers inthemiddleof huge promos, a Mastercard (NYSE:) report revealed on Tuesday.
The boost is lower than the 3.7% development Mastercard projection in September and last year’s 7.6% increase as greater interest rates and inflation pressured customer costs.
Amazon.com (NASDAQ:) and Walmart (NYSE:) ramped up promos through November in the United States to attract bargain-hunting consumers, however experts stated that the discountrates were not as deep as the prior year, when merchants were saddled with excess stock after the pandemic.
Some of those dis