Nov 30 (Reuters) -
Total
Black Friday
U.S. retail sales online and in stores rose 3.4%
year-over-year as shoppers snapped up merchandise the day after
U.S. Thanksgiving, according to preliminary estimates by
payments processor Mastercard.
Black Friday U.S. e-commerce retail sales increased by
14.6%year-over-year as consumers shopped for deals online, while
in-store sales increased by 0.7%, according to Mastercard
SpendingPulse, a metric measuring U.S. retail sales across the
Mastercard payments network combined with estimates for cash and
check payments.
Black Friday kicked off the holiday shopping season for
retailers and competition has intensified to win shoppers
seeking discounts.
Shopper Corey Coscioni, 58, looked for bargains online
as well as in Chicago-area stores on Friday, seeking "gifts for
everyone: my wife, my daughter, and myself." His stops included
Bloomingdale's, Macy's and Anthropologie. "While we're
waiting in line, I'll be shopping."
Spending during the holiday season overall, from November 1
through December 24, is expected to be up 3.2% year-over-year,
according to earlier estimates from Mastercard SpendingPulse.
SpendingPulse excludes automotive sales and is not adjusted for
inflation.
"Black Friday was a good indicator of how the holiday
season is positively shaping up," said Michelle Meyer, chief
economist, Mastercard Economics Institute.
Department store chains such as Macy's and Kohl's
, as well as big-box retailer Target ( TGT ), could see
muted sales this season, which is shorter with only 26 days
between Thanksgiving and Christmas.
Sales at Best Buy ( BBY ) and Target ( TGT ) on Friday were
relatively flat year-over-year, according to data firm Facteus,
which analyzes swipes of consumer credit and debit cards to
measure shifts in spending patterns.
U.S. shoppers made more purchases online from mobile phones,
laptops, desktops and other devices, a trend that potentially
favors e-commerce giants such as Amazon.com ( AMZN ) and Walmart ( WMT )
. Walmart ( WMT ), which operates 4,700 U.S. stores, has invested
heavily in store-to-home deliveries for the holiday season to
boost e-commerce.
E-commerce retailers including Shein, PDD's Temu,
and TikTok Shop, of Beijing-based ByteDance's TikTok social
media platform, also showed strong growth in sales in the seven
days through Friday, compared to a year earlier, Facteus said.
An updated tally from Adobe Inc ( ADBE ) on Saturday showed that
Americans made roughly $10.8 billion in online purchases on
Friday, up 10.2% from a year earlier. Top-selling merchandise
online included makeup, skincare and haircare products, as well
as bluetooth speakers and espresso machines, according to its
Adobe Analytics tally. Adobe keeps track of devices that use its
software to help power more than 1 trillion visits to U.S.
retail sites.
Separately, Salesforce ( CRM ), a cloud-based software company that
tracks a different array of online spending categories, said
online sales in the U.S. rose 7% on Friday to $17.5 billion,
according to its own updated tally on Saturday. Salesforce ( CRM ),
which analyzed the activity of more than 1.5 billion global
shoppers, said shoppers bought more home appliances and
furniture.
Because the estimates aren't adjusted for inflation,
higher prices account for at least some of the spending growth.