NEW YORK--(BUSINESS WIRE)--Brigit, the leading holistic financial wellness app, released its 2024 Black Friday and Cyber Monday spending report today, revealing a year-over-year increase in paycheck-to-paycheck consumers’ spending in the period from Black Friday to Cyber Monday compared to 2023.
Prior to the weekend, US retail sales were expected to reach a record-breaking $75 billion over the Black Friday / Cyber Monday weekend, representing 5% retail sales growth from the same period in 2023. In line with those predictions, data from Brigit found that its users spent 12.3% more per person ($145.33 total per average user) over the holiday shopping weekend compared to 2023 ($129.42 total per average user).
Results from the spending patterns of millions of Brigit users show:
- Average Individual Transaction Size: The average single transaction size rose 5.71%, to $42.34, compared to $40.05 in 2023, as shoppers set out to make the most of seasonal discounts.
Of the top 20 merchants with the highest transaction volume:
- Retailers with the biggest jumps in spend per user year over year: Temu, Walmart and Amazon saw increases of 19.65%, 11.11%, and 8.68%, respectively.
- Retailers with the steepest year over year spending per user declines: Macy’s, Nike, and Shein had decreases in spending per user from 2023 by -4.31%, -12.33%, and -16.24%, respectively.
- Merchants with the highest total number of transacting consumers in 2024: Walmart, Amazon, and Apple.
You can access Brigit’s full Black Friday/Cyber Monday report on Brigit’s website.
"We’re seeing Americans go to great lengths to budget smartly and find deals that make holiday shopping more accessible as they battle the increasing cost of goods," said Zuben Mathews, co-founder and CEO of Brigit. "For many retailers, the increase in consumer spending this past weekend signals a clear demand for budget-friendly options and emphasizes the value shoppers place on holiday deals and discounts.”
Based on spending data across millions of Brigit users, the report captures an analysis of in-store and online spending patterns at major U.S. retailers, including Amazon, Target, Walmart, Macy’s, and more. Offering an in-depth look at the financial behavior of Americans living paycheck to paycheck—individuals who allocate the majority of their income to monthly expenses—the findings reveal how these consumers approached holiday shopping during the Black Friday and Cyber Monday weekend.
The holiday season can mean financial and emotional stress for many Americans, from travel expenses to family get-togethers. The increase in consumer spending over Black Friday and Cyber Monday shows that Americans remain determined to find the best deals to gift their loved ones.
Methodology
Brigit’s Black Friday & Cyber Monday Spending Report draws from anonymized and aggregated spending data of Brigit’s user base. Covering top U.S. retailers and popular retail and e-commerce categories, the analysis provides a clear look into consumer behavior and spending during the Black Friday and Cyber Monday shopping period from November 29 to December 2, 2024, with YOY comparisons to 2023.
About Brigit
Brigit is a holistic financial health app that has helped millions of Americans budget better, get their earned wages early, build their credit through savings, protect themselves from identity theft, and find ways to earn and save money. Its mission is to help everyday Americans build a better financial future. Brigit is backed by Will Smith, Kevin Durant, and other prominent investors.
