Breaking All Records: Shoppers Energized by Holiday Sales Set New Single-Day Sales Record

This year, holiday shoppers were excited to take part in Black Friday, whether they were navigating crowded brick-and-mortar stores or browsing virtual carts. According to insights from Mastercards SpendingPulse, both in-store and online retail sales increased compared to last year, with apparel, jewelry, and restaurant categories experiencing significant growth. In-store sales saw a 1% increase, while e-commerce led the way with an 8.5% boost.

Sensormatic Solutions, which monitors shopper traffic in physical stores, reported a 4.6% increase in visits on Black Friday compared to 2022. This comes as a positive change for retailers, who have seen a decrease in foot traffic by an average of 2.4% this year. "In-store shopper traffic exceeded our expectations," said Grant Gustafson, head of retail consulting and analytics at Sensormatic. "Consumers are once again embracing the experience of brick-and-mortar shopping and seeing it as a shared experience with loved ones. This reflects the efforts of retailers to improve the shopping experience."

According to Adobe Analytics, US online shopping on Black Friday reached a record high of $9.8 billion in sales, marking a 7.5% increase from the previous year. The surge in sales was largely driven by the high demand for electronics such as televisions, smart watches, and audio equipment.

The majority of shoppers conducted their browsing and purchasing on their mobile phones, with mobile purchases accounting for $5.3 billion in sales. Adobe anticipates that smartphone purchases will surpass desktop purchases for the first time this holiday season.

Online shoppers have increasingly utilized "buy now, pay later" (BNPL) installment payment plans to split their online cart total into four payments, allowing for better budget management during the holiday season. Last week, there was a 72% increase in BNPL plan usage compared to the previous week, as reported by Adobe. In addition, Shopify experienced record global sales exceeding $4 billion, marking a 22% increase from the previous year. The average cart price for US consumers was $124, with top-selling categories including personal care, clothing, and kitchenware.

With Christmas just around the corner, analysts are anticipating a surge in holiday shopping, particularly during Cyber Monday. According to Adobe, this year's Cyber Monday is expected to generate a whopping $12 billion in sales, surpassing last year's numbers by over 6%. Sensormatic forecasts that eight of the busiest in-person shopping days of the holiday season will occur in December, with Black Friday weekend, accounting for 40% of all holiday foot traffic this year.