PURCHASE, N.Y. – According to preliminary insights from Mastercard SpendingPulse™, U.S. retail sales (excluding automobiles) were up +4.1% on Black Friday (Nov. 28) compared to Black Friday 2024. Mastercard SpendingPulse measures in-store and online retail sales, representing all payment types, and is not adjusted for inflation.
Spending growth on apparel was particularly strong online and in-store, suggesting shoppers refreshed wardrobes while leaning into value-driven choices and convenience.
“Consumers are showing incredible savviness this season. They’re navigating an uncertain environment by shopping early, leveraging promotions, and investing in wish-list items,” said Michelle Meyer, chief economist at the Mastercard Economics Institute via press release.
Compared to Black Friday last year, spending growth trends by category include:
- E-commerce retail sales (excluding autos) jumped +10.4%, as shoppers increasingly value speed and convenience. In-store sales grew more modestly (+1.7%) but remain essential to consumers for tactile experiences.
- Apparel climbed +5.7% (online +6.1%, in-store +5.4%), as chilly temperatures and seasonal deals encouraged spending on new fashions. Jewelry also rose +2.75% (online +4.2%), as consumers opted for gifts that shine.
- Restaurants grew +4.5%, as dining out has become part of the holiday ritual to celebrate the season and underscores consumers’ continued desire for experiences.
- Spending outperformed in pockets of the country including New England, the Midwest and Southeast. Overall sales in New England and the Midwest were boosted by apparel, as spending on cold-weather gear was likely supported by the drop in temperatures. The Southeast has shown persistent strength this year.
Shoppers are using seamless checkout experiences across devices, from smartphones to connected home assistants, making holiday shopping faster, safer, and more intuitive. As online sales soar, so do opportunities for fraud. Mastercard research shows that 72% of consumers shop on unfamiliar websites, even though one in four claim to avoid them.
The biggest red flags? Prices that seem too good to be true (52%), poor spelling or grammar (48%), and requests for unnecessary personal information (49%). Unfortunately, nearly one in five shoppers have had items that never arrived, and 16% have received counterfeit goods in past seasons.