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PURCHASE, N.Y. — In-person and online Black Friday sales are up year-over-year according to Mastercard’s SpendingPulse Insights report.
The report, which measures in-store and online retail sales across all forms of payment, and is not adjusted for inflation, U.S. retail sales on Friday were up 12% year-over-year, excluding automotive. Brick-and-mortar sales increased 12% over 2021 while e-commerce sales experienced sustained growth up 14% year-over-year.
“This Black Friday, retailers offered promotions across channels leading to strong year-over-year growth online and in-store,” said Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks Inc. “Apparel, Electronics and Restaurants were strong performing sectors as consumers turned holiday shopping into a full day experience.”
“With holiday promotions kicking off long before the Thanksgiving weekend, consumers have been shopping strategically for the season’s best deals,” added Michelle Meyer, North America chief economist, Mastercard Economics Institute. “Retailers delivered on Black Friday with deals that enticed consumers to fill their carts despite the inflationary environment.”
Furniture retailers expected big things out of Black Friday this year, sharing that it’s become one of the industry’s biggest sales events.
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Thomas Lester is Retail Editor for Furniture Today and Digital/Managing Editor for Home Accents Today. A graduate of Emory & Henry College’s Mass Communications program, Lester spent a dozen years working for newspapers in Virginia and North Carolina covering an array of subjects, ranging from community news, government, education, ACC sports, professional baseball and more before joining Furniture Today in 2013. Reach out to me with your story ideas, tips and more at [email protected].
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