InvestorsObserver’s research team analyzed Black Friday shopping trends over the past three decades to understand how spending patterns have evolved, and how credit cards shape the sales season. The report reveals what was driving Black Friday sales from 1997 to 2024, including which states and product categories experienced the largest surge in spending, how much of that growth was attributed to increased credit card use, and which items have fallen out of favor with today’s shoppers. Key research findings: Nationwide, inflation-adjusted spending on durable goods during the Black Friday season increased by over 90% between 1997 and 2024, with states like Florida and Texas more than doubling their totals. Spending on telephone and related communication equipment surged over 600% in North Carolina and North Dakota. The Pacific Northwest and Sun Belt, including Washington, Nevada, and Texas, have also experienced a surge. Hawaii and Maine’s high growth rates highlight how even small, geographically unique states have embraced Black Friday to shop for technology. Average credit card balances at major issuers (Amex, Discover, Capital One) have grown at an average monthly rate of 0.5% (approximately 6% per year) since 2020, with bold spikes during the Black Friday season. Spending on traditional Black Friday luxury items, such as jewelry and new vehicles, dropped in several states. Vermont, Maine, Connecticut, Iowa, and Michigan all had double-digit declines. States like Illinois, Connecticut, Michigan, and Ohio had a significant real decline (–10 to –15%) in Black Friday spending on new cars. California, Texas, and Florida are the biggest spenders. Together, they account for nearly a quarter of all U.S. durable goods bought during Black Friday. North Carolina and Georgia have risen significantly in the rankings in recent years. Their booming real estate, ongoing migration trends, and family-driven consumption translate into strong demand for appliances, furniture, and home technology each Black Friday. Spending on sporting equipment, guns, and related goods soared, making these some of the fastest-growing Black Friday categories nationwide.
Read the full report here. ABOUT SAM BOURGI Sam Bourgi is a finance analyst and researcher at InvestorsObserver, bringing over 13 years of expertise in financial markets, economics, and monetary policy. His professional background spans the private, nonprofit, and public sectors, where he has held positions such as senior policy adviser, labor market analyst, and marketing director. Sam’s in-depth research and market analysis have been referenced by leading institutions and organizations, including the U.S. Congress, Department of Justice, Chicago Board Options Exchange, Bank for International Settlements, Boston University Law Review, Barron’s, and Forbes. Sam regularly appears on TV, including CBN, KFYR TV, and ABC30, and is often quoted by such media outlets as the SF Chronicle and MSN. ABOUT INVESTORS OBSERVER Investors Observer is a trusted source of independent financial analysis, market insights, and investment research for individuals and institutions. Founded to empower retail investors with actionable intelligence, InvestorsObserver delivers timely commentary, data-driven studies, and accessible financial tools designed to simplify complex market trends. Its research and insights have been featured by various media outlets, including Yahoo, The Guardian, Morning Star, Nasdaq, and more. Previous research by InvestorsObserver: |
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