Black Friday Boost: U.S. Retail Sales Surge 2.5%, Driven by E-commerce Surge
Mastercard Spendingpulse has reported a noteworthy 2.5% year-over-year increase in U.S. retail sales on Black Friday, excluding automotive transactions and not adjusted for inflation. In a forecast made in September, Mastercard SpendingPulse anticipated a 3.7% growth in U.S. retail sales, excluding automotive, for the holiday season spanning from November 1 to December 24.
Black Friday, a traditionally robust day for retail sales following the U.S. Thanksgiving holiday, saw a surge in e-commerce transactions, spiking by 8.5% year-over-year as consumers sought deals online. In-store sales also saw a modest uptick of 1.1%, according to Mastercard Spendingpulse.
Data from Adobe Analytics aligns with these findings, revealing that U.S. shoppers spent a substantial $9.8 billion online during this year’s Black Friday, in line with expectations set by the data and insights division of software firm Adobe (ADBE.O). This surge in online spending contributes to the evolving landscape of Black Friday shopping habits.