US holiday retail sales rose compared to last year, with jewelry proving one of the most popular gifts to purchase on Black Friday, according to Mastercard SpendingPulse.
Electronics and apparel were also strong on Black Friday, Mastercard said Saturday. Total sales rose 3.4% year on year for the November 29 purchasing day, with online up 15% and in-store gaining 0.7%.
“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.”
According to Abobe, total spending over the holiday season so far — from November 1 to December 1 — came to $118.2 billion, with mobile comprising $62.3 million of the total. Outlay reached $6.1 billion on Thanksgiving Day, up 9% year on year, and on Black Friday it rose 10% to $10.8 billion. Super Saturday saw $5.3 billion laid out, while Sunday, December 1, garnered $5.6 billion, Adobe noted.
Salesforce gave slightly different numbers for the holiday season. Global sales on Thanksgiving Day climbed 6% to $33.6 billion, gaining 8% to $8.1 billion in the US, according to data it released. Meanwhile, consumers shelled out $74.4 billion globally on Black Friday, an increase of 5% year on year, and $17.5 billion in the US — advancing 7%.
“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 “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.”
BRON: Rapaport 3-12-2024
