The NRF noted a resurgence in foot traffic on Black Friday, the highest since the pandemic.
Shoppers shattered spending records in 2024, embracing trends like mobile shopping, buy now, pay later (BNPL) services and generative AI-powered shopping assistants. U.S. holiday retail sales are expected to top $1 trillion in 2024, with about a 3% projected increase from last year, as forecasted by leading consulting and research firms such as Deloitte, EY-Parthenon and Forrester. This includes sales for November and December, excluding auto dealers, gas stations and restaurants. But the holiday shopping season isn’t over just yet. According to a National Retail Federation survey, 71% of holiday shoppers plan to hit the stores or shop online the week after Christmas, motivated by holiday sales and promotions. Walmart outperformed competitors like Target and Amazon, with a 9% increase in average transaction amounts compared to last year, according to findings provided by Attain, a consumer-permissioned data platform.
