Marketing
Mastercard data predicts 15% retail sales growth on big sale day
November 21, 2022
Black Friday will be a bountiful sales day for retailers if a Mastercard SpendingPulse study projection hits the mark.
The data projects a 15% U.S. retail sales growth on Black Friday, the big shopping day following the Thanksgiving holiday, as compared to Black Friday 2021.
Additional findings include:
- Building on last year's in-store momentum and the post-pandemic return of doorbusters, window displays and brick-and-mortar collaborations are continuing to drive shoppers back into stores with in-store retail sales anticipated to be up 18% year-over-year.
- Department stores are making a comeback with deals and discounts to entice consumers. This Black Friday, department store sales are anticipated to be up nearly 25% year-over-year as consumers shop online and in-store at these one-stop shops for all the gifts on their holiday shopping list.
- Restaurants are expected to experience 35% year-over-year growth on Black Friday as consumers prioritize experiences and dining out with friends and family.
"Expect Black Friday shopping to be in full force across channels this year," Steve Sadove, senior advisor for Mastercard and former CEO and chairman of Saks Inc., said in a release on the findings. "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."
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