Shoppers continue indulging in Black Friday sales, but mostly online
CNN
Despite retailers offering holiday discounts earlier than usual this year, US consumers did more shopping on Black Friday than the days leading up to it.
Despite retailers offering holiday discounts earlier than usual this year, US consumers did more shopping on Black Friday than the days leading up to it. In-store and online retail sales saw a 3.4% increase year-over-year on Black Friday, according to Mastercard SpendingPulse. “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, in a news release. “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.” More people turned to online shops on Friday, while in-store sales grew less than 1% compared to last year. According to Mastercard, online sales were up 14.6% from last year. Despite warm weather lasting longer into the fall, apparel was popular with online shoppers. Mastercard said there was an increase in grocery spending during the two weeks leading up to Black Friday and people were spending big at restaurants the day after Thanksgiving. According to Adobe Analytics, online shoppers spent $10.8 billion on Friday compared to $9.8 billion in 2023. Shoppers set a record this week by spending $6.1 billion on Thanksgiving Day.
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