U.S. retail sales excluding autos climbed +4.1% this Black Friday, according to preliminary Mastercard SpendingPulse™ data, and that number quietly signals a shift in how Americans are approaching holiday spending. Rather than impulse buying for the sake of the deal, shoppers leaned toward intention — picking purchases that fit personal priorities, wish lists, or lifestyle upgrades instead of just piling the cart high because “everything’s on sale.”
Apparel led the growth among physical goods with a +5.7% jump overall — +6.1% online and +5.4% in-store. Maybe it was the colder weather rolling into New England and the Midwest, or maybe just the universal need to refresh the closet before holiday gatherings, but clothing and winter gear were clearly top-of-mind. Jewelry ticked upward too (+2.75%), especially online, suggesting that sentimental gifts still have a place even in a cautious economy.
Online spending was the real standout. E-commerce (excluding autos) surged +10.4%, proving once again how much consumers have grown used to seamless checkout experiences across phones, laptops, and even voice assistants. Stores weren’t empty — in-person sales still grew +1.7% — but the hierarchy of convenience feels settled now: stores for tactile certainty, online for speed and efficiency.
Dining saw growth as well, with restaurant spending up +4.5%. There’s something comforting about that number — it hints at traditions unfolding in booths, at neighborhood spots, at tables lit by warm December light. Experiences, it seems, are now part of the shopping ritual.
But the optimism of digital retail comes with an edge. Mastercard’s latest research shows 72% of holiday shoppers are willing to purchase from websites they’ve never used before. At the same time, a notable share have already paid the price for that curiosity: nearly one in five say something they ordered never arrived, while 16% admit they’ve been sent fakes. The warning signs remain predictable — prices that feel suspiciously magical, poorly written listing pages, or checkout forms asking for information no retailer should ever need.
So Black Friday 2025 lands somewhere between confidence and caution. Shoppers know how to hunt deals, how to stack promotions, how to time purchases, and how to align spending with values and needs rather than novelty. Still, the sparkle is there — in gift boxes, restaurant reservations, and maybe even a new coat pulled off a hanger because it just felt right.