Black Friday sales in the US increased 3.4% in 2024 compared to the previous year, according to preliminary data from Mastercard SpendingPulse.
Black Friday remained one of the biggest days of the season despite retailers offering early deals in the days leading up to the Thanksgiving holiday, the report observed.
Mastercard SpendingPulse measures in-store and online retail sales, representing all payment types, and is not adjusted for inflation. The data excludes automotive sales.
Black Friday Highlights
On Black Friday (29 November 2024), online retail sales increased 14.6%, while in-store sales saw a modest growth of 0.7%.
Jewellery, electronics, and apparel topped the gifting list, with apparel seeing robust demand through e-commerce channels.
“Black Friday was a good indicator of how the holiday season is positively shaping up,” said Michelle Meyer, chief economist at 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.”
Other Findings
The study also highlighted some trends in the two weeks ending in Black Friday.
Grocery spending increased during the holidays as consumers celebrated at home in the two weeks leading up to Black Friday. Elsewhere, restaurant spending on Black Friday was particularly strong.
US shoppers prioritised value with deals and promotions rolled out on Black Friday appealing to them as they tried to save on items they value most.
While spending on apparel was relatively stronger in-store, shoppers also spent on the category online on Black Friday.
Spending on footwear was also stronger than in the same period last year.
Steve Sadove, senior advisor for Mastercard and former CEO and chair of Saks Incorporated, added, “Shoppers are making the most of seasonal deals and enjoying a balance of experiences spending and gifts for all loved ones.
“They're more strategic in their shopping though, prioritising promotions that they believe hold the greatest value — opening their wallets, but with more intentional distribution.”
