Nov 29, 2025 - Business

Black Friday retail sales up despite economic jitters

Ben Berkowitz

A man looking at sneakers in a mall with a vertical sign reading "sale" in all-capital letters next to him. — Shoppers on Black Friday 2025 at a mall in California. Photo: David Paul Morris/Bloomberg via Getty Images

Black Friday retail sales growth picked up this year, Mastercard said Saturday, as shoppers shook off economic uncertainty and weak sentiment.

Why it matters: The consumer remains the engine of the U.S. economy, and a strong start to the holiday season will be reassuring to those who questioned whether tariffs and a soft labor market might crimp demand.

By the numbers: Friday's retail sales excluding autos rose 4.1%, Mastercard SpendingPulse said in a statement. That's stronger than last year's 3.4% growth.

Online sales rose 10.4%; in-store sales rose 1.7%. The data are not adjusted for inflation.
Demand was strongest for clothes and jewelry.

The Mastercard data lines up with other evidence that shoppers turned out Friday.

Pass_by, which analyzes retail foot traffic, said in-store visits rose 1.17% this year versus last.
Adobe Analytics estimated Black Friday online spending at $11.8 billion, up a full $1 billion from last year.

Between the lines: Though economic vibes are generally weak, retailers are still optimistic.

Walmart recently raised its outlook for the year, and the National Retail Federation expects this to be the first $1 trillion holiday season.

What to watch: Cyber Monday will be the next key indicator of retail's health.

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Black Friday retail sales up despite economic jitters

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