- Consumers value deals and promotions on Black Friday, e-commerce sales increased by 14.6% compared to 2023.
BUY, NY–( BUSINESS WIRE )–According to preliminary data from MasterCard (NYSE:) SpendingPulse™, US retail sales excluding autos rose +3.4% on Black Friday, November 29 compared to Black Friday 2023. Mastercard SpendingPulse measures in-store and online retail sales, representing all payment types, and is not adjusted for inflation.
In the past few years, Black Friday has become more than just a day, but instead a window of time for shoppers to find value. While shoppers were lured in by early deals in the days leading up to the Thanksgiving holiday, Black Friday continued to reign as one of the biggest days of the season. Focusing on Black Friday, we noticed:
- Online Retail sales increased by 14.6%, while in-store sales increased at a much lower rate +0.7%, compared to last year’s Black Friday.
- Jewelry, Electronics and Apparel are still the top gift categories for the holidays, with some Apparel commerce strength on Black Friday.
Black Friday was a good indicator of how well the holiday season is progressingsaid Michelle Meyer, chief economist, Mastercard Economics Institute. Our real-time data shows that shoppers are in the mood for luxury as price reductions and deals are happening across the board, supporting holiday shopping budgets.
Shoppers make the most of seasonal deals and enjoy the balance of spending money and gifts for all loved ones, said Steve Sadove, senior advisor to Mastercard and former CEO and Chairman of Saks Incorporated. They are very strategic in their purchases, prioritizing promotions that they believe hold the most value ” opening their wallets, but with more meaningful distribution.
Flashing back to the two-week period ending on Black Friday, a few themes stand out:
- The price is in fashion: While retailers and consumers are looking for an early start to the season, the deals and promotions released on Black Friday have appealed to consumers looking to save on the things they value most.
- ˜New installations and kicks: Apparel spending started the season with strong in-store activity, but shoppers spent surprisingly online on Black Friday. After an unusually warm autumn, cool and clear weather is welcomed in the Apparel sector. To top this item off, Footwear consumption is stronger than last year at this time.
- Fun deals and meals: Grocery spending increased during the holiday season as shoppers feasted at home in the two weeks leading up to Black Friday and restaurant spending on Black Friday showed some strength.
- Regions: We’ve seen good spending in pockets of the state including Massachusetts, Washington DC, and Colorado.
About Mastercard SpendingPulse
Mastercard SpendingPulse measures national retail sales based on aggregated and anonymous Mastercard data, representing all forms of payment in selected markets around the world.
Mastercard SpendingPulse defines US retail sales as sales by retailers and food service retailers of all sizes. Sales activity within the services sector (for example, travel services such as airlines and lodging) is not included in the total retail sales. SpendingPulse data does not reflect the operations of Mastercard; information and forecasts are subject to change.
View the source version on businesswire.com:
Raúl López raul.lopez@mastercard.com | 914-841-7049
Alyssa O’Brien | alyssa.o’brien@mastercard.com | 914-336-1981
Source: Mastercard Investor Relations
