Walmart, Amazon, Apple Dominate Black Friday/Cyber Monday Spending Among Paycheck to Paycheck Shoppers, New Data from Brigit Reveals | Business Wire
Black Friday Spending: A Peek Into the Wallets of Holiday Shoppers
In 2024, Americans shopping paycheck-to-paycheck splurged a little more during Black Friday and Cyber Monday, reflecting a rise in holiday spending despite the ever-growing financial pressures. A report by Brigit, a financial wellness app, highlighted a 12.3% increase in spending per user over the long weekend compared to 2023. This translates to an average user shelling out $145.33 this year, up from $129.42 in 2023—a telling sign of shoppers doubling down on those seasonal discounts.
This spending surge aligns with U.S. retail sales projections of a record-breaking $75 billion over the weekend, a 5% leap from last year. Retailers like Walmart, Amazon, and Temu saw the most significant year-over-year growth in spending per user, with Temu leading the charge with a staggering 19.65% increase. However, not all brands came out winners—Macy’s, Nike, and Shein saw declines, with Shein facing the sharpest drop at 16.24%.
Interestingly, the average transaction size also grew, reaching $42.34 (up 5.71% from 2023), underscoring consumers’ determination to stretch their dollars while hunting for the best deals. Brigit’s CEO, Zuben Mathews, pointed out that this spike reflects not only the rising cost of goods but also the resilience of shoppers to adapt their budgets and prioritize gifting during the holiday season.
The report, drawn from anonymized data across millions of Brigit users, vividly depicts how Americans living paycheck-to-paycheck navigated holiday spending. Balancing tight budgets, these consumers turned to budget-friendly giants like Walmart, Amazon, and Apple to fulfill their shopping needs. Yet, the data reveals more than numbers; it captures the spirit of shoppers refusing to let economic constraints dampen their holiday cheer.
While the uptick in spending highlights consumer resilience, it also raises questions about the broader economic landscape and how businesses and consumers respond to rising living costs. As shoppers hunt for bargains, companies that offer affordability and convenience stand out, marking a shift in retail dynamics……….
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How do companies like Walmart and Amazon balance the need to offer budget-friendly deals while maintaining profitability, and what lessons can smaller businesses learn from these strategies?
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