Collected in a SpendTrend Report – a macro-economic indicator based on aggregate same store sales activity across the four million merchant locations First Data processes transactions for in the US – the data highlights trends in consumer spending over the holiday weekend.
Overall spending on Thanksgiving and Black Friday accelerated, growing 11.9% year-over year (YOY), compared to 7.8% YOY growth in 2016.
Ecommerce continued to grow its share of total commerce, accounting for 29% of spending over Thanksgiving and Black Friday in 2017, up from 25% in 2016 and more than double the 14% it made up in 2013. Across retail categories, ecommerce grew 13% YOY, surpassing 2016’s 10.8% YOY growth.
Pre-holiday spending (across the nine days leading into Black Friday) saw an impressive pickup, with total pre-holiday spending up 5.7% YOY, compared to 3.4% and 2.8% YOY growth in 2016 and 2015, respectively. Pre-holiday retail spending climbed 5.9% YOY, a stark contrast to 1.6% YOY growth in 2016 and 1.7% in 2015.
Retail saw 9.3% YOY growth over Thanksgiving and Black Friday (11/23-24), with an average ticket size of USD 78.43 across categories, up 2% YOY.
Electronics / Appliances won retail, with total spending up 19.2%. The average ticket size grew from USD 148.25 in 2016 to USD 150.69 in 2017. This sector also saw big gains in ecommerce, growing nearly 10 percentage points from 11.1% in 2016 to 21% in 2017.
Building materials / DIY saw the biggest jump in average ticket size, growing +6% from USD 92.91 in 2016 to USD 98.72 in 2017. In the same category, overall spending grew 8.9% YOY.
Sporting goods / Hobby didn’t fare as well, coming in last amongst retail subcategories with 1.3% YOY growth in total spending and -2% decrease in average ticket size.
The Southwest region (the US) surpassed others, growing 12.1%, compared to 8.1% in 2016. The mid-Atlantic saw the slowest growth at 6%, down from 6.8% in 2016. South Dakota, Texas and Vermont were top performing states.
Gift cards remain popular, with the average consumer purchasing 6.5 gift cards in 2017, up from 5.9 in 2016, 5.5 in 2015, and 4.7 in 2014.
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