Black Friday shopping at physical stores saw a 4.2% increase in sales compared to 2018, according to First Data Insights. The Black Friday 2019 SpendTrend® Holiday Snapshot from First Data, now Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, showed that consumers were willing to travel for a deal, with a quarter of shoppers traveling more than 25 miles to visit a physical store on Black Friday. At the same time, spending via mobile wallets increased more than 80%, as consumers continue adopting new payment methods.
A comprehensive overview of consumer spending for Black Friday 2019, the SpendTrend Holiday Snapshot analyzes aggregate sales data across more than one million brick-and-mortar merchant locations, spanning all major retail verticals.
Key Black Friday 2019 retail trend data is included in the SpendTrend Holiday Snapshot infographic.
Highlights for 2019 include:
- Black Friday brick-and-mortar sales were up 4.2%, with the greatest increase over normal shopping activity seen across electronics and appliances, sporting goods, and clothing/shoe stores. Electronics and appliance stores saw the largest average ticket size at $214 per transaction.
- New York, Los Angeles and Chicago had the greatest increase in sales volume compared to a typical Friday in those cities. Oklahoma City, San Antonio and Raleigh experienced the smallest increase in sales volume compared to a typical Friday.
- Consumers started their Black Friday shopping trips with breakfast, with restaurants posting their highest transactions per minute at 9 a.m. local time. Consumers also shopped at specialty retailers early, with activity peaking at 10 a.m. at places like jewelry stores, cosmetics stores and boutiques.
- Shoppers demonstrated their propensity to travel for a good deal, with 38% traveling more than 10 miles, and 25% traveling more than 25 miles to shop at a physical store.
- When paying with a card, consumers chose credit. Fifty-seven percent of card-based spending was via credit card, compared to 43% for debit. Spending via mobile wallets was up 82% compared to 2018.
“Despite the evolution in consumer shopping habits, Black Friday remains an important bellwether for the holiday season,” said Devin McGranahan, executive vice president and senior group president, Fiserv. “In 2019, consumers showed their willingness to travel for a good deal, and blended their physical shopping with digital payments via mobile wallets.”
Media: To arrange a phone interview to discuss the Black Friday 2019 SpendTrend Holiday Snapshot data in greater detail contact Serena Tesler at email@example.com or Ann Cave at firstname.lastname@example.org or call 312-451-4278.
Additional Resources: SpendTrend Holiday Snapshot infographic – www.firstdata.com/spendtrend/2019/black_friday_infographic.pdf.
About SpendTrend from First Data, now Fiserv
SpendTrend® economic analyses provide a comprehensive view of transaction and dollar volume growth by payment type. The unique analyses aggregate retail sales data across more than four million merchant locations to provide extraordinary insight into consumer spending patterns in all major retail verticals. With a combination of macroeconomic reports and customized datasets, SpendTrend economic analyses help guide forecasting, validate models and identify sales growth areas.
First Data is now Fiserv.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among the FORTUNE Magazine World’s Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.