According to Mastercard SpendingPulse*, U.S. retail sales, excluding automotive, are expected to grow 15 percent on Black Friday compared to last year.
With big-box retailers, department stores and outlet malls closed on Thanksgiving Day, consumers are expected to spend on the following categories:
- In-store shopping: window displays and brick-and-mortar collaborations continue to drive consumers back to physical retail shopping with in-store sales anticipated to be up 18 percent year-over-year.
- Department store deals: On Black Friday, Department Store sales are anticipated to be up nearly 25 percent year-over-year as consumers shop online and in-store.
- Dining out: Restaurants are expected to experience a 35 percent year-over-year growth on Black Friday.
- Travel: Separate from total retail sales, airlines (39 percent YOY, 14 percent YO3Y) and lodging (32 percent YOY, 40 percent YO3Y) are expected to see double-digit growth on Black Friday.
“Expect Black Friday shopping to be in full force across channels this year,” said Steve Sadove, senior advisor for Mastercard and former CEO and Chairman of Saks Incorporated. “While retailers have already been heavily discounting this season, consumers and retailers are likely holding out for some special offers to land on the biggest promotional day of the year.”
*Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment and is not adjusted for inflation.
Photo courtesy Mastercard