Black Friday sales grow 4% as online slows
Register for our 2022 Holiday Preview with Michael Maloof Thursday, December 8th for a full rundown on this holiday season.
Cyber-5 sales, the period between Black Friday and Cyber Monday, grew 4% YoY according to consumer spend growth measured by the Vela credit and debit card data in Earnest Analytics Spend Index (EASI). Spending grew at a much more muted pace than 2021, +22% YoY comping pandemic challenges. Online and in-store spending continued to converge after years of high ecommerce growth.
Overall spending decelerated to 5% YoY in the first 32 days of the holiday shopping season (starting Nov. 1). This was notably slower than early holiday 2020 and 2021 shopping season levels at 7% YoY and 22% YoY, respectively, and slightly lower than 2019’s 8% YoY growth rate. For further holiday details, register for the 2022 Holiday Preview with Michael Maloof Thursday, December 8th for a full rundown on this holiday season.
*About the Earnest Analytics Spend Index: The Earnest Analytics Spend Index (EASI) is an alternative data-driven measure of consumer spending that tracks spend across 2,500+ large national brands in major consumer discretionary and staples subcategories. The near real-time data is derived from the credit and debit spend of millions of de-identified U.S. consumers.Advantages of using EASI include better representation of e-commerce spend, disaggregation by geography, and online versus in-store breakouts.
