Retailers, including Amazon and Walmart in the US, offered large discounts during the holiday season to get rid of excess stock and bring back inventories to normal levels.
NEW YORK: US retail sales rose 7.6% between Nov 1 and Dec 24, which encompasses the majority of the holiday season, as steep discounts lured deal-hungry consumers, a Mastercard report shows.
The increase is higher than the 7.1% growth Mastercard forecast in September, when it anticipated consumers would pull purchases into October in the hunt for early deals.
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