US Black Friday retail sales grow 3.4 percent this year

Black Friday is far from being over in the United States, as shoppers across the nation continue to indulge in the annual discount day. According to preliminary insights from Mastercard SpendingPulse, retail sales (excluding automotive) grew 3.4 percent year on year on November 29, compared to Black Friday in 2023.

As more retailers spread out their seasonal Black Friday offers across an entire week rather than just one day, more consumers seem to be finding value in the deals offered. However, despite the onslaught of early deals leading up to Thanksgiving, Black Friday maintained its position as a key shopping day of the season.

“Black Friday was a good indicator of how the holiday season is positively shaping up,” said Michelle Meyer, chief economist at Mastercard Economics Institute, in a statement. “Our real-time insights show that consumers are comfortably in the gift-giving spirit as price reductions and deals occur across sectors, supporting budgets for holiday shopping.”

According to the payment provider, ecommerce sales were up by 14.6 percent on Black Friday, while in-store sales experienced a more modest 0.7 percent increase compared to last year. Some of the strongest holiday gift categories were jewelry, electronics, and apparel, with apparel, in particular, showing exceptional demand online during Black Friday.

Overall, apparel spending was off to a strong start this season, with notable activity in-store for new clothes, with consumers spending significantly more in this category during Black Friday. Following an unseasonably warm fall, the arrival of cooler, clear weather proved favorable sales for the apparel market, reported Mastercard. In line with the increased interest in apparel, footwear sales are also outperforming last year’s figures at this point in the season.

“Shoppers are making the most of seasonal deals and enjoying a balance of experiences spending and gifts for all loved ones,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated, in a statement. “They’re more strategic in their shopping though, prioritizing promotions that they believe hold the greatest value — opening their wallets, but with more intentional distribution.”