News Briefs

According to preliminary insights from Mastercard SpendingPulse™, U.S. restaurant spending was up 6.3% compared to last year from November 1 through December 24. 

Retail sales excluding automotive increased 3.8% year-over-year from November 1 through December 24. Mastercard SpendingPulse measures in-store and online retail sales, representing all payment types and is not adjusted for inflation.

“The holiday shopping season revealed a consumer who is willing and able to spend but driven by a search for value as can be seen by concentrated e-commerce spending during the biggest promotional periods,” said Michelle Meyer, chief economist, Mastercard Economics Institute. “Solid spending during this holiday season underscores the strength we observed from the consumer all year, supported by the healthy labor market and household wealth gains.”

Key retail trends for the full holiday season included:

• The most ‘valuable’ time of the year – Empowered consumers sought value at every turn this year, responding to promotions during the November and Black Friday shopping period, and filling their baskets in the run-up to December 24. Overall retail sales saw a 3.8% increase compared to 2023, with the last five days of the holiday season accounting for 10% of all holiday spending.
• A balanced basket – Consumer demand for experiences like dining out strengthened in the holiday season, with Restaurant spending growth up 6.3% compared to last year. Additionally, this season saw an increase in spending growth on goods compared to last year, with Apparel (3.6%), Jewelry (4.0%) and Electronics (3.7%) as notable sectors for gift-giving.
• Clicking all the way – Consumers increasingly preferred digital-first shopping this year, with e-commerce, curbside pick-up and delivery being top-of-mind for the festive season. Online retail sales grew 6.7% year-over-year, whereas in-store sales increased 2.9%. Notably, the Apparel sector showed a strong lead in e-commerce sales, with 6.7% growth for online purchases compared to last year.
• Digital-savvy shopping cities – While many Americans shop online for the holidays, there are some cities in particular that have embraced e-commerce. Cities like Tampa (10.6%) and Phoenix (10.0%) lead with double digital growth followed by Minneapolis (8.9%), Dallas (8.4%), Charlotte (7.9%), Orlando (7.8%), and Houston (7.6%) coming in well above the national total for e-commerce sales compared to 2023.

“This holiday season, we saw consumers motivated by deals and retailers respond with promotions to meet the demand,” said Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks Incorporated. “The value-minded consumer showed up to shop at brick-and-mortar stores and e-commerce platforms, with retailers managing across both to capture attention throughout the season.”

About Mastercard SpendingPulse

Mastercard SpendingPulse measures national retail sales based on aggregated and anonymized Mastercard insights, representing all payment types in select markets around the world.

Mastercard SpendingPulse defines “U.S. retail sales” as sales at retailers and food services merchants of all sizes. Sales activity within the services sector (for example, travel services such as airlines and lodging) are not included in the total retail sales figure. SpendingPulse insights are not indicative of Mastercard company performance; insights and forecast are subject to change.

Engine, the modern travel platform for booking and managing business trips, has launched a fleet of new features to help lodging providers fill vacancies on demand. It’s the latest expansion to Engine’s Partner Hub, the easiest, most powerful way for hotels to raise visibility and increase customer loyalty with business travelers.

Partner Hub gives hotels a direct channel to hundreds of thousands of business travelers who use Engine. It offers comprehensive property analytics to help hotels make real-time decisions. The latest features include:

• Deals: Maximize occupancy by launching pinpoint-targeted discount offers to attract last-minute business travelers.
• Property Spotlight: Bid on premium placements in Engine’s platform when travelers and travel admins search. Drive traffic on an ongoing basis or whenever occupancy dips.
• 2X Rewards feature: Designed to incentivize travelers to choose a preferred property over its competitors, Partner Hub users can offer travelers double Engine Rewards.
• Group RFP Management Tools for Chains and PMGs: Use a single dashboard to view, manage, and recommend properties for Group RFPs across their portfolio, helping sales teams stay organized, streamline lead management, and increase chances of winning group business.

“We bring innovative tools to hotels that help them attract more business travelers, boost midweek bookings, and deliver a better guest experience,” said Engine’s EVP of Supply and Strategy, Florent Silve. “For many hotels, driving consistent business is complex and overwhelming. That’s why Engine’s Partner Hub is designed to be a strategic partner that increases bookings and simplifies operations. It enables chains, PMGs, and individual hotels to optimize their visibility and performance in the small business travel segment — a huge untapped market other travel platforms neglect. It gives them detailed analytics, robust insights, and sophisticated management tools to reach thousands of small businesses traveling into their market.”

More than 900,000 business travelers use Engine to plan and manage trips — mostly for weekday travel when vacancies are at their highest. Partner Hub’s new features enable hotels to capture demand among this highly motivated audience with tailored offers that deliver fast, measurable results. Travelers booking on Engine are 2.2X more likely to book when same-day cancellation is offered, boosting click-to-book conversion by 68%. Further, hotels leveraging premium placement in Engine search results drive 24% more bookings than the next-ranked property.

Sign up for Engine’s Partner Hub to maximize potential with property management tools to increase bookings and simplify operations.

Designed with accessibility and financial freedom in mind, the new Instant mobile app is released with a list of innovative new features and functionality including:

• Faster Access to Earned Wages: Employees have access to their hard-earned wages in fewer steps, with an improved user interface (UI) and key elements surfaced more prominently within the app.
• Modern Security Features: State-of-the-art security protocols, such as facial and fingerprint biometrics, multi-factor authentication, and encryption technologies protect user information and provide peace of mind.
• Flexible Payment Options: Users have the freedom to choose how and when they access their wages. Whether it’s through direct deposit, the Instant card, or a mobile wallet, the new app offers a greater degree of flexibility for all employees, ensuring convenience for all.
• Clear and Informative Design: With improvements to the user interface (UI), the app offers a user-friendly experience, empowering users to make informed choices and navigate the app confidently.
• New Technology Framework: Underpinned by a new technology infrastructure, the new Instant mobile app is faster, more responsive, and built to allow for additional features and functionality to meet the needs of employees and how they are paid.

“Employee demands regarding how they access their wages are constantly shifting, and our new app is meeting that head-on,” said Tal Clark, CEO of Instant Financial. “Whether it’s to cover unexpected expenses, avoid predatory loans, or simply to enjoy more control over their finances, Instant is continually revolutionizing the way people get paid.”

By releasing this enhanced version of its mobile app experience, Instant is furthering its mission of delivering pay to employees, when they want, where they want, and how they want, all free of fees.

Flexa has teamed up with Nighthawk Wallet, a self-custody digital wallet, to expand how digital assets are used in everyday life. Through this integration, Nighthawk Wallet users can now make instant, fraud-proof payments at over 41,000 retail locations across the United States and Canada, marking a major step forward for the usability of digital currencies. 

Flexa Components, now embedded within the Nighthawk Wallet app, ensures that transactions are processed instantly, privately, and securely. By combining Nighthawk’s user-friendly wallet design with Flexa’s powerful payment platform, users can seamlessly spend digital asset ZEC for everyday purchases—whether at restaurants, coffee shops, or other merchants. With guaranteed settlement and zero chargebacks for merchants, this integration also simplifies payment acceptance for businesses, further driving the adoption of digital currencies.

“Digital payments are now simpler, faster, and more secure with Flexa,” said Daniel McCabe, cofounder and CEO of Flexa. “With Flexa Components integrated into Nighthawk Wallet, we are enabling users to transform their digital assets from static holdings to tools for seamless commerce—while ensuring critical benefits like privacy and guaranteed fraud protection for our merchant partners.”

Nighthawk founder Aditya Bharadwaj notes, “Spending with Flexa opens up more in-person retail trade and use cases for digital currencies, a pioneering use case since the early days of crypto. The Flexa team has built a scalable platform that redefines the way we think about digital payments, offering merchants and consumers a seamless and secure experience that rivals traditional credit card payments, with no predatory fees or concerns about customer data privacy. We are committed to maintaining our high standards of transparency as we bring this innovative solution to our user base.”

This collaboration bridges the gap between digital assets and everyday commerce, making payments more efficient, private, and accessible.

Square announced a new partnership with Sysco, a leading global foodservice distributor, along with a number of new features to help food and beverage sellers run their businesses with ease.

With new strategic partnership, Square and Sysco bring better technology to more restaurants

For more than a decade, Square has delivered innovative products to help food and beverage operators streamline operations and grow their businesses. Now, in partnership with Sysco, Square aims to bring the company’s powerful, intuitive technology solutions to more restaurants worldwide.

Sysco, a trusted leader in foodservice, supports and enhances their customers' success with a range of services, including top-tier technology recommendations through their Sysco Restaurant Solutions program. Now, as a Restaurant Solutions partner, Square’s technology suite will be promoted, co-marketed, and sold to Sysco’s customers.

“Sysco is committed to helping our customers succeed through innovative solutions and technology,” said Neil Russell, Chief Administrative Officer at Sysco. “Square’s technology is comprehensive and easy-to-use for operators and workers alike, and we know that their solutions can help food and beverage businesses work smarter, operate more efficiently, and find new avenues of growth.”

Square brings new and highly requested features to food and beverage businesses to save time, improve cash flow

Beyond the strategic partnership with Sysco, Square also announced new features to help restaurants run their businesses easily and efficiently. These features are currently rolling out to sellers, with full availability in early 2025.

• Restaurants and bars can now preauthorize Bar Tabs for customers paying with credit card or digital wallet, improving the guest experience by speeding up ordering and simplifying checkout while also providing businesses with a secure payments experience. This feature is especially critical for bars and breweries, allowing these sellers to streamline service and start tabs without holding onto guests’ cards, all while protecting their bottomline.

• With Instant Payouts, restaurants using Square Checking can receive funds for orders made through third-party delivery platforms instantly and without additional fees, giving sellers immediate access to their earned revenue. Cash flow is a major pain point for restaurants, particularly as margins get tighter, and with third-party delivery platforms continuing to grow in popularity, the delay in time-to-money for the orders they fulfill – up to 11 days in some cases – can be extremely challenging. Instant Payouts addresses this challenge for sellers, helping them worry less about their liquidity and giving them the means to more quickly restock inventory, pay their teams, and get orders out the door. Instant Payouts is currently available to Square for Restaurants Plus and Premium sellers that have integrated DoorDash or Uber Eats into Square, with more third-party providers coming in 2025.

• Sellers can now set up House Accounts for regulars or large institutional clients they know and trust, invoicing them monthly, quarterly, or whenever’s good for the business and customer.

“Holding onto people’s credit cards at the bar – and having 20-30 people per night forget to close out their tabs – can be a nightmare, so we were eager to work with Square on testing Bar Tabs for our brewery locations,” said Eric Lurwick, General Manager at Cisco Brewers on Nantucket. “We collaborated closely with the Square team on providing feedback to help fine-tune the product, and using Bar Tabs has made the lives of Cisco employees and customers a lot better.”