A Review of Black Friday and Cyber Monday Sales Data

According to insights from Mastercard SpendingPulse™, U.S. retail sales excluding automotive were up 3.4 percent on Black Friday (Nov. 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.

Other Black Friday data included the following:

• Online retail sales increased 14.6 percent, while in-store sales were up a more modest 0.7 percent, compared to Black Friday last year. (MasterCard SpendingPulse)
• Initial data revealed a 3.2 percent year-over-year decline in in-store foot traffic for Black Friday, reflecting broader trends of cautious spending and intentional purchasing that have defined 2024. (RetailNext)
• Jewelry, electronics and apparel remain the top gift sectors for the holidays, with particular strength in e-commerce for apparel on Black Friday. (MasterCard SpendingPulse)

“Black Friday was a good indicator of how the holiday season is positively shaping up,” said Michelle Meyer, chief economist, Mastercard Economics Institute. “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.”

“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. “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.”

Looking at Cyber Monday e-commerce data as of 6 p.m. ET, Adobe Analytics forecasts that consumers are set to spend $8.7 billion. Adobe expects that when the final tally is in, consumers will spend between $13.2 billion and $13.5 billion for the day, making Cyber Monday the biggest online shopping day of the year (and of all time).

Total Retail's Take: The holiday shopping season is off to an uneven start, with e-commerce, not surprisingly, leading the growth in spending, making up for a slower beginning at brick-and-mortar stores. Colder temperatures across many parts of the country, particularly in the Midwest, likely factored into decreased foot traffic across stores. Retailers will be counting on store traffic ticking up as we grow closer to Christmas, especially as consumers grow wary of shipping times not aligning with gift-giving occasions. But for now, consumers are eschewing stores in favor of their digital devices. Lastly, as promotional periods around traditional shopping holidays such as Black Friday and Cyber Monday become extended, the emphasis on driving sales solely on those days is becoming less prioritized by retailers and consumers alike.