According to the latest data from Mastercard SpendingPulse, U.S. retail sales (excluding automotive) rose 4.1% year‑over‑year on Black Friday 2025. This growth comes amid sustained consumer demand and record‑setting online shopping behavior — with e‑commerce sales up 10.4% compared with 2024.
What the Numbers Tell Us
- Overall retail growth — 4.1%: The modest increase indicates resilience among shoppers despite economic headwinds, including inflation and broader uncertainty.
- E‑commerce soars — +10.4%: Online shopping remains the engine of holiday spending, reflecting ongoing consumer preference for convenience, speed, and value deals — especially in apparel and seasonal gifts.
- Brick‑and‑mortar growth is subdued: While some in-store gains occurred (particularly in apparel and gift categories), overall the growth was far more modest than online.
Industry watchers say the numbers reflect shoppers carefully balancing their budgets this holiday season — hunting for deals, shifting earlier in the season, and increasingly leaning on digital channels for both convenience and value.
What This Means for Retailers
For omnichannel retailers, this shift underscores a few key strategic takeaways:
- Digital-first strategies continue to dominate: With e‑commerce driving the bulk of growth, robust online infrastructure, smooth checkout flows, and strong logistics remain essential.
- Omnichannel capabilities remain vital: Offering both online convenience and in-store experiences helps meet diverse shopper preferences — but investment priority should align with digital demand.
- Promotions and value are front-and-center: Shoppers are clearly prize-conscious this season. Retailers that succeed are those offering compelling discounts, bundled offers, or value‑based incentives.
