Mastercard SpendingPulse, a Mastercard study that measures retail sales in physical and online stores, predicts a 3.1% increase in retail spending in Europe (excluding automobile) by December 24, 2025, compared to the previous year. Hungary (5.2%), Poland (5%), Spain (4.8%) and the Czech Republic (4.6%) have the highest projections.
The report points to a preference for lower-value purchases and experiences: fashion, beauty products, premium groceries, restaurants and live events concentrate demand, while the purchase of higher-value goods, such as furniture and electronics, loses momentum — except in Spain, where electronics remains strong. Younger generations are boosting sectors such as cosmetics and second-hand clothing.
There are, however, variations by country, with the Germans prioritizing live events, the Czechs standing out in cosmetics and toys, the Italians spending more on household appliances and the Spanish leading in fashion and footwear.
Regarding the amount spent, the study indicates that Italians spend, on average, 39 euros per purchase during the festive period, closely followed by the British (37 euros) and Germans (36 euros). Czech and British consumers increase their food expenditure more than other Europeans, with average values per purchase growing by 73% and 69%, respectively, during this season.
“This festive season, European consumers are demonstrating resilience and adaptability,” says Natalia Lechmanova, Chief Economist for Europe at Mastercard. “There is a strong demand for small, affordable luxuries, lower-value purchases and travel experiences,” he adds.