U.S. Black Friday Retail Sales Rise 2.5%

(RTTNews) - Black Friday retail sales in the United States were higher this year on top of double-digit growth experienced in 2022, according to Mastercard SpendingPulse.

As per the payments technology company's report, which measures in-store and online retail sales across all forms of payment, U.S. retail sales on Friday, November 24 grew 2.5 percent year-over-year excluding automotive, not adjusted for inflation.

E-commerce sales went up 8.5 percent from last year as consumers shopped deals online, avoiding crowds. In-store sales increased 1.1 percent from the previous year.

In the top gift lists on the traditional shopping day sales were Jewelry and Apparel.

The Restaurant sector continued its growth as consumers gathered with friends and families for shared meals to celebrate the holidays.

Meanwhile, department Store sales as well as Furniture and Furnishings continued to lag other sectors compared to 2022.

There were also a number of sporting events aired on Friday.

Black Friday kicked off the holiday shopping season, followed by Cyber Monday, the biggest online shopping event of the year, with retailers giving thousands of deals and enough opportunities for consumers to shop and save till full.

Retailers had started their Black Friday sales early in the month, giving consumers enough time to search for best deals and promotions.

Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Inc., said, "Consumers are navigating the holiday season well and taking advantage of holiday promotions.... Consumers are also shopping smarter, using all of their tools - from searching across channels to cross checking on apps and websites - to maximize value while they spend time with friends and family."