According to Mastercard Spendingpulse, U.S. Black Friday retail sales increased by 2.5% year-over-year, excluding automotive sales and not adjusted for inflation. E-commerce sales saw an 8.5% YoY increase, while in-store sales rose by 1.1% YoY. However, this growth is lower compared to the 12% increase in 2022. Some analysts express concern about the sales growth being lower than the inflation rate, and Mastercard had forecasted a 3.7% YoY increase for the holiday season.
U.S. retail sales on Friday, November 24 were up +2.5% year-over-year excluding automotive, not adjusted for inflation. https://t.co/spLQnEVNRC
Pretty stark contrast between the 2022 and 2023 Mastercard Black Friday press releases.
Mastercard Spendingpulse Black Friday up 12% in 2022, but up 2.5% this year. Nearly all media outlets have labeled it ‘strong’. Strong? Inflation is higher than 2.5%.
🇺🇸 BLACK FRIDAY SALES RISE 2.5% - MASTERCARD SPENDINGPULSE E-commerce sales on Friday increased by 8.5% YoY as consumers shopped for deals online, while in-store sales increased by 1.1% YoY, MasterCard Spendingpulse said - Reuters
Underwhelming holiday retail sales was one of the first piece of data to alert certain Fed officials of a recession back in 2007/2008…the holiday season’s not over yet, but so far not looking good. Mastercard forecasts 3.7% y/y for the season, so far 2.5% y/y for Black Friday.
US BLACK FRIDAY SALES RISE 2.5% -MASTERCARD SPENDINGPULSE (Reuters) Mastercard Spending pulse said on Saturday that U.S. retail sales on Black Friday rose 2.5% year-over-year excluding automotive sales, not adjusted for inflation. https://t.co/CTnTv6IlVo
US Black Friday sales rise 2.5% -Mastercard Spendingpulse https://t.co/hB8zVV8mfT https://t.co/u4LMDO56Rj
US Black Friday sales rise 2.5% -Mastercard Spendingpulse https://t.co/3ZskHHNyOB
US Black Friday sales rise 2.5% -Mastercard Spendingpulse https://t.co/gXhV0L6IS8 https://t.co/e03pwuv8Me