Holiday SpendTrend 2014
- Thanksgiving and Black Friday spending was up 7% compared to last year, with the biggest increase in hourly spending occurring between 5:00 p.m. and 7:00 p.m. on Thanksgiving, followed by a decrease in year-over-year hourly spending between 8:00 p.m. on Thanksgiving until 5:00 a.m. on Black Friday.
- Thanksgiving Day spending was up 12% compared to 2013.
- The overall spending pattern on Black Friday was similar to last year's, despite many stores opening earlier in the day.
- On a segment-by-segment basis, the largest year-over-year retail spike occurred on Thanksgiving for the Electronics and Home Furnishings retail categories. The spike on Thanksgiving accounted for a large increase in year-over-year electronics spending, although electronics comprised only 6% of Black Friday spending.
Using data created while processing nearly half of U.S.-based consumer payments, First Data's SpendTrend® economic analyses provide timely and accurate insight into U.S. consumer spending to help guide market forecasting, identify sales growth areas and inform business decisions.
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