Data from Mastercard SpendingPulse indicates that shoppers did more than just hunt for deals on Black Friday and Cyber Monday.
In fact, more consumers chose to dine out and spent their discretionary income at restaurants. According to the report, spending at restaurants was up 23.3 percent in 2022, representing the biggest increase of any consumer category.
Increases in Apparel (14.4%) and Electronics (2%) helped drive total US retail sales during Thanksgiving weekend, which rose nearly 11 percent overall year over year.
While the results were not adjusted for inflation, the trends showed strength in numbers, as US shoppers went out their way to snag deals in preparation for the holidays.
Black Friday Sales rise 4% YoY
Adobe Digital Insights reported that online spending during Black Friday weekend brought in a record $35.27 billion, up 4 percent YoY.
According to Adobe, Black Friday spending reached $9.12 billion in 2022 while Cyber Monday spending reached a record $11.3 billion.
“With oversupply and a softening consumer spending environment, retailers made the right call this season to drive demand through heavy discounting,” said Vivek Pandya, lead analyst, Adobe Digital Insights, in its analysis. “It spurred online spending to levels that were higher than expected and reinforced ecommerce as a major channel to drive volume and capture consumer interest.”
Consumers Capitalize on Discounts for Toys & Electronics
Compared to an average day in October, toys, electronics, and exercise equipment saw the biggest increases in sales, according to Adobe.
Electronics sales increased by 221 percent compared to an average day in October while sales for toys were up 285 percent.
Sales for exercise equipment also jumped by 218 percent.
Ironically, those items were among the most heavily discounted items during Black Friday and Cyber Monday.
Toys were discounted at an average rate of -31.8 percent on Black Friday. Prices for toys dipped even further on Cyber Monday with discounts coming in at an average of -33.8 percent.
On the other hand, electronics were discounted by -23.4 percent on Black Friday and -23.8 percent on Cyber Monday.
According to the report, XBox Series X was the most popular item purchased on Black Friday, followed by Bluey and Call of Duty: Modern Warfare II. Meanwhile, Legos, PlayStation 5, and Hot Wheels took the top-three spots on Cyber Monday.
For a complete breakdown of the most purchased items on Thanksgiving, Black Friday, and Cyber Monday, check out the chart below.
| Rank | Thanksgiving | Black Friday | Cyber Monday |
| 1 | Nintendo Switch | Xbox Series X | Legos |
| 2 | Roblox | Bluey | PlayStation 5 |
| 3 | God of War Ragnarök | Call of Duty: Modern Warfare II | Hot Wheels |
| 4 | Paw Patrol | Drones | Madden 23 |
| 5 | Instapots | Macbooks | Smart Watches |
