This holiday season saw a shift in consumer spending trends.
Consumers spent most of their money on restaurants, said Sarah Quinlan, senior vice president of MasterCard Advisors, in an interview with CNBC's "Power Lunch" on Friday. Quinlan added that consumers were also spending a lot of money on airlines and lodging, meaning there is a high volume of travel taking place.
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Another category that saw an increase in consumer spending is furnishings, but furniture spending took a downturn, thus reflecting millennials' hesitation to buy a home, Quinlan said. "When you buy a home, you invest in new furniture," she said. "When you rent, you buy furnishings."
New electronics fell flat this season, Quinlan said. "A lot of people thought electronics were taking money from apparel," she said. "(Electronic spending) was flat for the period between Black Friday and December 24."
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Quinlan said she obtained her findings after analyzing billions of transactions between Black Friday and Christmas Eve.
