Energized shoppers break one-day holiday sales record
Energized shoppers break one-day holiday sales record holiday shoppers were eager to participate in Black Friday this year.
According to Mastercard’s SpendingPulse insights, both in-store and online retail sales increased year-over-year unadjusted for inflation, with apparel, jewelry, and restaurants seeing the most significant increases. There was a little more than 1% increase in in-store sales, but an 8.5% increase in e-commerce.
Black Friday visits, however, were up 4.6% from 2022, according to Sensormatic Solutions, which tracks shopper traffic at brick-and-mortar stores. Foot traffic has fallen 2.4% on average this year, according to the company, which is a turnaround for retailers.
Although we anticipated an increase, in-store shopper traffic exceeded our expectations, said Grant Gustafson, Sensormatic’s head of retail consulting and analytics. Brick-and-mortar shopping is again a joy for consumers, seeing it as an experience to be shared with family and friends. Streamlining journeys and delivering satisfying experiences are testaments to the hard work retailers have put in.”
According to Adobe Analytics, which tracks US online shopping, Black Friday sales rose 7.5% from 2022, driven by a record demand for electronics such as televisions, smart watches, and audio equipment.
In 2013, $5.3 billion in sales originated from mobile purchases, with most shoppers browsing and buying on their phones. It is expected that purchases made via smartphones will overtake those made via desktops for the first time this holiday season.
A large number of online shoppers also take advantage of “buy now, pay later”, installment payment plans that allow consumers to split their online cart total into four payments typically due several weeks apart. For major purchases or big spending days, BNPL mini-loans can help stretch holiday budgets, even though some charge interest or late fees.