Visa's inflation-adjusted consumer spending for November: -0.9% y/y

  • October was -2.1%
  • Visa cites:
    Biggest falls in expensive items such as cars and trips abroad
  • Cheaper luxuries such as beauty treatments and cosmetics saw gains
  • "People opt for smaller treats, at the same time tightening their belts when it comes to larger purchases" Visa executive Mark Antipof
  • Black Friday discounts in late November boosted online sales at the expense of physical stores