RetailNext, the leading in-store traffic analytics provider for over 560 of the world’s top retail brands, today released its detailed Black Friday Weekend 2024 report. The data paints a nuanced picture of cautious spending tempered by moments of indulgence, as shoppers balanced practicality with retail therapy this holiday season.
Key Takeaways:
- U.S. in-store foot traffic between Friday and Monday dropped 1.6% YoY, with sales dipping just 0.1%, signaling stronger conversion rates (+0.7%) among those who did shop.
- The Midwest saw sharp declines earlier in the weekend due to cold winter weather but rebounded on Sunday with a 9% increase in traffic, underscoring the reduced singular importance of Black Friday and the role of external factors in shaping shopping behavior.
- Apparel, footwear, and jewelry led the weekend in traffic growth. Jewelry, in particular, remains a standout, with consistent positive traffic growth across six months in 2024 as shoppers gravitate toward luxury gifts for loved ones or splurge purchases on themselves.
- Units Per Transaction (UPT) decreased 1.9%, while Average Transaction Value (ATV) dropped 1.1%, and Average Unit Retail (AUR) rose 0.9%. These metrics reveal that shoppers opted for fewer items but splurged on more expensive purchases, reflecting a high degree of intentionality and strategic decision-making.
- Inflation-fatigued shoppers focused on essentials like apparel and footwear but also indulged in “comfort purchases,” as seen in the steady growth in jewelry traffic.
YoY Percent Change in Traffic (2023 vs. 2024):
Overall:
- Black Friday (Nov. 29): -3.0%
- Saturday (Nov. 30): -0.6%
- Sunday (Dec. 1): -0.1%
- Cyber Monday (Dec. 2): -2.8%
- Friday–Monday (Nov. 29–Dec. 2): -1.6%
- Friday–Sunday (Nov. 29–Dec. 1): -1.3%
By Region:
- Midwest:
- Black Friday: -7.0%
- Saturday: -4.4%
- Sunday: +9.0%
- Cyber Monday: -2.8%
- Friday–Monday average: -1.3%
- Friday–Sunday average: -0.8%
- Northeast:
- Black Friday: -2.1%
- Saturday: -1.7%
- Sunday: +2.7%
- Cyber Monday: -2.2%
- Friday–Monday average: -0.8%
- Friday–Sunday average: -0.4%
- South:
- Black Friday: -3.5%
- Saturday: -0.2%
- Sunday: +0.5%
- Cyber Monday: -2.2%
- Friday–Monday average: -1.3%
- Friday–Sunday average: -1.1%
- West:
- Black Friday: -2.6%
- Saturday: -1.1%
- Sunday: -4.0%
- Cyber Monday: -4.3%
- Friday–Monday average: -3.0%
- Friday–Sunday average: -2.6%
By Category:
- Apparel:
- Black Friday: +0.5%
- Saturday: +2.1%
- Sunday: +4.4%
- Cyber Monday: +2.3%
- Friday–Monday average: +2.3%
- Friday–Sunday average: +2.3%
- Footwear:
- Black Friday: +1.3%
- Saturday: +3.2%
- Sunday: +0.9%
- Cyber Monday: +0.6%
- Friday–Monday average: +1.5%
- Friday–Sunday average: +1.8%
- Health & Beauty:
- Black Friday: -6.8%
- Saturday: –4.7%
- Sunday: 0.0%
- Cyber Monday: -6.8%
- Friday–Monday average: -4.6%
- Friday–Sunday average: -3.8%
- Home:
- Black Friday: -4.1%
- Saturday: -5.5%
- Sunday: -6.0%
- Cyber Monday: -9.7%
- Friday–Monday average: -6.3%
- Friday–Sunday average: -5.2%
- Jewelry:
- Black Friday: +0.5%
- Saturday: +1.4%
- Sunday: +2.9%
- Cyber Monday: +1.1%
- Friday–Monday average: +1.5%
- Friday–Sunday average: +1.6%
YoY Percent Change in Sales (2023 vs. 2024):
- Net Sales:
- Black Friday: -2.3%
- Friday–Monday average: -0.1%
- Average Transaction Value (ATV):
- Black Friday: -2.2%
- Friday–Monday average: -1.1%
- Conversion Rate (CVR):
- Black Friday: +0.5%
- Friday–Monday average: +0.7%
- Shopper Yield (SY):
- Black Friday: +0.9%
- Friday–Monday average: +1.5%
- Units Per Transaction (UPT):
- Black Friday: -2.9%
- Friday–Monday average: –1.9%
- Average Unit Retail (AUR):
- Black Friday: +0.9%
- Friday–Monday average: +0.9%
“This year’s Black Friday Weekend reflects a broader narrative we’ve seen throughout 2024: cautious but intentional consumer spending,” said Joe Shasteen, Global Head of Advanced Analytics at RetailNext. “The slight decline in overall foot traffic, paired with a notable increase in conversion rates, shows that shoppers are visiting stores with a clear purpose. They’re no longer shopping just for the thrill of the event, but instead are coming in with specific items in mind, often splurging on higher-ticket items they’ve been waiting to buy on discount. As retailers extend their promotional periods, this shift reduces the singular importance of Black Friday itself, allowing shoppers to spread out their purchases and plan more strategically.”
Shasteen continued, “Categories like jewelry and footwear tell a particularly interesting story. Jewelry continues to see strong performance as shoppers seek out meaningful gifts, despite inflationary pressures, while footwear saw a positive rebound this weekend after consistent declines earlier in the year. These trends highlight how shoppers are balancing value-driven decision-making with moments of indulgence, reflecting both pragmatism and the emotional side of holiday shopping.”
He added, “While foot traffic remains a cornerstone for measuring offline performance, today’s shoppers are increasingly expecting a seamless experience across all channels. Retailers who successfully connect their physical stores with digital platforms will be better positioned to capture value this holiday season and beyond. As these channels continue to merge, creating a consistent and integrated shopping experience will be critical for meeting the evolving expectations of today’s consumers.”
Terminology Defined:
- Average Transaction Value (ATV): the average amount a customer spends on a single purchase
- Conversion Rate (CR): the percentage of visitors who made purchases compared to the number of total visitors
- Shopper Yield (SY): a metric that measures a retailer’s revenue per shopper, calculated by multiplying conversion by ATV
- Units Per Transaction (UPT): the average number of items that customers are purchasing in any given transaction
- Average Unit Retail (AUR): the average selling price of an item
About the Data
RetailNext’s analysis is based on in-store data from tens of thousands of U.S. stores across hundreds of brands. The data reflects trends across diverse retail segments, excluding automobiles, petroleum, and warehouse clubs. All metrics are derived from stores that were open during both 2023 and 2024.
About RetailNext
The first retail vertical IoT platform to bring e-commerce style shopper analytics to brick-and-mortar stores, brands, and malls, RetailNext is a pioneer in focusing entirely on optimizing the shopper experience. Through its centralized SaaS platform, RetailNext automatically collects and analyzes shopper behavior data, providing retailers with insight to improve the shopper experience in real-time.
More than 560 retailers in over 95 countries have adopted RetailNext’s analytics software and retail expertise to better understand the shopper journey in order to increase same-store sales, reduce theft and eliminate unnecessary costs. RetailNext is headquartered in Campbell, California.
Learn more at retailnext.net.
