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Black Friday Boosts Store Traffic and Online Sales, with Jewelry and Apparel Leading the Surge November 27, 2023 (0 comments)


New York, NY--Black Friday this year witnessed a remarkable boost in consumer spending. In physical retail, store traffic rose by 2.1%, with the Midwest and Northeast regions leading the way.

[Photo by Karolina Grabowska via Pexels]

According to data from RetailNext — highlighted by Forbes — Health and Beauty, Jewelry, and Apparel stores experienced significant growth in footfall, while home stores saw a decline. RetailNext highlighted this increase as a positive sign for the holiday retail season. 

Globally, Black Friday was also a success, especially for Shopify businesses, which saw a 22% rise in sales. The U.S., U.K. and Canada topped the sales charts, with major cities like Los Angeles, New York, and London as hotspots. Popular categories included clothing, personal care, and jewelry, with kitchen and dining items being a key category in the U.S.

The growing trend of Buy Now Pay Later (BNPL) options was evident, with a 72% increase in its usage for online orders during Black Friday. This shift suggests changing consumer payment preferences, particularly as credit card interest rates rise.

Consumer spending has shown resilience in the first half of the holiday season, starting as early as October. The National Retail Federation's CEO, Matthew Shay, noted in the report that sales projections remain optimistic, with an expected 4% growth over last year. 

Learn more in the Forbes report.

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