How much revenue is generated on Black Friday?

Black Friday 2024 generated approximately $20 billion in total U.S. retail sales, combining $10.8 billion in online purchases with an estimated $9.2 billion in brick-and-mortar spending. This represents a 5.8% increase over 2023’s combined revenue, with online sales driving most of the growth at 10.2% year-over-year while in-store sales grew just 0.7%. Globally, Black Friday reached a record $74.4 billion across all channels, marking a 5% rise from the previous year.

Numbers at a glance

• $20 billion total U.S. Black Friday revenue (2024)
• $10.8 billion U.S. online sales (Adobe Analytics, 2024)
• $74.4 billion global Black Friday revenue (2024)
• 10.2% year-over-year growth in U.S. online spending
• 55% of online sales made via mobile devices
• 87.3 million Americans shopped online on Black Friday
• $1 billion in Buy Now, Pay Later transactions during holiday period

2024 headline numbers

The most comprehensive view of Black Friday 2024 revenue comes from combining Adobe Analytics’ online data with Mastercard SpendingPulse’s in-store figures. Adobe tracks digital commerce across over 1 trillion visits to U.S. retail sites, covering 18 product categories from the top 1,000 retailers, while Mastercard measures retail sales across all payment types, including cash.

Total U.S. revenue breakdown

Online sales: $10.8 billion (Adobe Analytics)

• 10.2% increase from 2023’s $9.8 billion
• Mobile devices accounted for 55% of purchases
• Peak shopping period: 10 AM-2 PM with $11.3 million per minute

In-store sales: ~$9.2 billion (estimated from Mastercard data)

• 0.7% increase from 2023
• Foot traffic down 3.2% year-over-year
• Overall retail sales (excluding automotive) up 3.4%

Global revenue snapshot

Salesforce Commerce Cloud data shows global Black Friday online sales hit $74.4 billion, a 5% increase from 2023. The U.S. represented approximately 14.5% of this global total, with other major markets including:

• Germany: €5.9 billion during Black Friday/Cyber Monday period
• United Kingdom: Strong transaction growth but 4% decrease in average spend
• Brazil: Significant participation though exact 2024 figures unavailable

Why numbers vary by source

Different tracking methodologies explain revenue discrepancies across reports:

• Adobe Analytics: Measures online transactions from comprehensive site analysis (1 trillion+ visits)
• Mastercard SpendingPulse: Tracks all payment types including cash, excludes travel and automotive
• Salesforce: Global e-commerce data from Commerce Cloud platform
• Individual retailers: Self-reported figures may include different time periods or metrics

The combination of these sources provides the most accurate picture of total Black Friday revenue, though slight variations exist due to methodology differences and timing of data collection.

Black Friday revenue by year (2013-2024)

Black Friday online revenue has grown from $1.93 billion in 2013 to $10.8 billion in 2024, representing a 460% increase over 11 years. The growth pattern shows explosive expansion in the mid-2010s, followed by more moderate but consistent gains as the market matured.

Historical revenue data (U.S. online sales)

Year	Revenue ($B)	YoY Growth	Notable Events
2013	$1.93	—	Early smartphone adoption
2014	$2.40	+24.4%	Mobile commerce emergence
2015	$2.70	+12.5%	App-based shopping growth
2016	$3.34	+23.7%	Social commerce integration
2017	$5.03	+50.6%	Largest single-year jump
2018	$6.22	+23.7%	Voice shopping introduction
2019	$7.40	+19.0%	Same-day delivery expansion
2020	$9.00	+21.6%	Pandemic-driven digital shift
2021	$8.92	-0.9%	Supply chain disruptions
2022	$9.12	+2.2%	Inflation impact on spending
2023	$9.80	+7.5%	Economic uncertainty
2024	$10.80	+10.2%	AI-powered personalization

Growth curve analysis

The data reveals three distinct phases in Black Friday’s evolution. The early period (2013-2016) showed steady but moderate growth as consumers gradually adopted online shopping for the traditionally in-store event. The explosive phase (2017-2020) saw massive acceleration, with 2017’s 50.6% surge marking the moment mobile commerce reached critical mass.

The maturation phase (2021-2024) reflects a more stable market, with the 2021 decline representing the only year-over-year drop in the dataset due to pandemic-related supply chain disruptions. Recent growth has stabilized around 7-10% annually, suggesting the market is finding its sustainable expansion rate.

Notable inflection points

2017 mobile tipping point: Smartphone purchases exceeded desktop for the first time, driving the largest year-over-year increase in Black Friday history. This shift fundamentally changed how consumers approached Black Friday shopping, enabling purchases from anywhere rather than requiring dedicated computer time.

2020 pandemic acceleration: COVID-19 lockdowns pushed reluctant digital adopters online, creating a 21.6% surge despite economic uncertainty. Many consumers who had never shopped online for Black Friday were forced to try digital channels, permanently expanding the online customer base.

2021 supply chain reality check: The only year-over-year decline in the dataset, caused by inventory shortages and shipping delays that pushed purchases to other days. This taught retailers valuable lessons about inventory management and consumer communication during disruptions.

Online vs. brick-and-mortar sales

The 2024 Black Friday shopping landscape shows online continuing to outpace in-store growth, though physical retail remains significant. The 54% online share represents a steady shift from the historically in-store-dominated event, reflecting permanent changes in consumer behavior accelerated by the pandemic.

2024 channel breakdown

Online dominance: 54% of total Black Friday revenue ($10.8B of $20B)

• Mobile devices: 55% of online sales ($5.94B)
• Desktop/laptop: 45% of online sales ($4.86B)
• In-app purchases up 14% year-over-year

In-store resilience: 46% of total revenue (~$9.2B)

• Foot traffic down 3.2% but transaction values maintained
• Doorbuster deals still drive early morning crowds
• Omnichannel shoppers (online research + in-store purchase) growing

Mobile share of online revenue

Mobile commerce reached new heights on Black Friday 2024, with smartphones generating $5.94 billion of the $10.8 billion online total. This 55% mobile share represents a steady climb from 29% in 2017, demonstrating how thoroughly mobile has transformed the shopping experience.

Mobile shopping patterns:

• Peak mobile hours: 6-10 PM local time across all zones
• Average mobile order value: $128 (vs. $156 desktop)
• In-app conversion rates 2.3x higher than mobile web
• 75% of Buy Now, Pay Later transactions made on mobile

The mobile dominance reflects not just convenience but also the sophisticated shopping apps retailers have developed. Features like one-click checkout, personalized recommendations, and augmented reality try-on capabilities have made mobile the preferred channel for many consumers.

In-store traffic rebound stats

While online grows faster, physical stores showed resilience in 2024, adapting to serve consumers who still value the tactile shopping experience:

• 81.7 million Americans shopped in stores on Black Friday
• Average time spent per store visit: 47 minutes (up from 42 in 2023)
• Self-checkout usage: 68% of transactions
• Contactless payments: 43% of in-store purchases

The in-store experience has evolved significantly, with retailers investing in technology to reduce friction while maintaining the social and experiential aspects that online cannot replicate. Many stores now serve as fulfillment centers for online orders, blending channels seamlessly.

Key drivers behind the revenue

Several factors contributed to Black Friday 2024’s record performance, from fundamental shifts in consumer behavior to technological innovations that streamlined the shopping experience across all channels.

Average order values & cart sizes

Online average order value (AOV): $142 in 2024

• 6.8% increase from 2023’s $133
• Mobile AOV: $128 (improving gap with desktop)
• Desktop AOV: $156 (premium purchases still favor larger screens)
• Items per cart: 3.7 average (up from 3.4 in 2023)

In-store transaction values: $87 average

• 4.1% increase from 2023 despite foot traffic decline
• Reflects strategic shopping for higher-priced electronics and appliances
• Bulk purchases more common in physical stores

The AOV increases reflect both inflation and consumers’ strategic approach to Black Friday, focusing on meaningful purchases rather than impulse buying. Online carts being nearly twice the size of in-store purchases demonstrates how digital channels enable more comprehensive shopping sessions.

Categories that lead spending

Top 5 categories by revenue (2024):

1.Electronics: $2.8 billion (26% of online total)

• Smartphones, tablets, gaming consoles dominated
• Average discount: 31% off regular prices
• Strong performance in both channels

2. Apparel & accessories: $2.2 billion (20%)

• Winter clothing and holiday outfits led sales
• Average discount: 28% off regular prices
• Online heavily favored over in-store

3. Home & garden: $1.6 billion (15%)

• Holiday decorations and furniture upgrades
• Average discount: 24% off regular prices
• Even split between online and in-store

4. Toys & games: $1.4 billion (13%)

• Video games and educational toys performed best
• Average discount: 33% off regular prices
• Strong gift-buying motivation evident

5. Beauty & personal care: $1.1 billion (10%)

• Gift sets and premium skincare products
• Average discount: 22% off regular prices
• Subscription and bundle offers popular

Discounts & promotions impact

Black Friday 2024 featured an average discount of 26% across all categories, slightly lower than 2023’s 28% as retailers focused on margin preservation amid persistent inflation pressures. However, the depth of discounts varied significantly by category and retailer strategy.

Discount patterns by category:

• Electronics: 31% average (highest, driven by new model releases)
• Toys: 33% average (deepest cuts, seasonal inventory clearing)
• Beauty: 22% average (lowest, premium brand protection)
• Home goods: 24% average (moderate, steady demand)

Non-discounted performance: Interestingly, 23% of Black Friday purchases were made at full price, indicating strong consumer demand beyond promotional pricing. This suggests that Black Friday has evolved beyond pure discount-driven shopping to become a dedicated shopping occasion regardless of price reductions.

Payment trends: BNPL, mobile wallets growth

Buy Now, Pay Later (BNPL) surge:

• $1 billion in BNPL transactions during holiday period
• 583% increase in consumer interest week before Black Friday
• 75% of BNPL purchases made on mobile devices
• Average BNPL order value: $189 (33% higher than traditional payments)

The BNPL explosion reflects changing consumer attitudes toward credit and spending, particularly among younger demographics who prefer transparent payment terms over traditional credit cards.

Digital wallet adoption:

• Apple Pay: 31% of mobile transactions
• Google Pay: 18% of mobile transactions
• PayPal: 28% of all online transactions
• Traditional credit cards: 52% of transactions (declining from 61% in 2022)

The shift toward digital payments accelerated during Black Friday 2024, with contactless and one-click payment options reducing checkout friction and cart abandonment rates significantly.

U.S. vs. global comparisons

Black Friday’s expansion beyond U.S. borders shows varying adoption rates and spending patterns across international markets, influenced by local shopping cultures, economic conditions, and competitive retail events.

Top international markets

Germany: €5.9 billion during Black Friday/Cyber Monday weekend

• 10% increase in transaction volume year-over-year
• 4% decrease in average spend reflecting budget-conscious shopping
• Strong performance in electronics and fashion categories
• Competition from local events like “Black Week”

United Kingdom: Significant participation with growing transaction volumes

• Similar pattern to Germany: more transactions, lower average spend
• Brexit-related economic uncertainty affecting consumer confidence
• Strong mobile commerce adoption (62% of online sales)
• Retailers extending promotions throughout November

Brazil: Major Black Friday participant in Latin America

• Historically strong growth in e-commerce during event
• Local retailers heavily promote “Black Friday Brasil”
• Consumer protection agencies monitor for fake discounts
• Exact 2024 figures require additional verification from local sources

Other notable markets:

• Canada: Close alignment with U.S. patterns, $1.2B online
• Australia: Growing adoption despite different seasonal timing
• India: Emerging market with rapid mobile commerce growth
• France: Moderate participation, preference for local sales events

Exchange rate considerations & data limitations

International comparisons face several methodological challenges that affect accuracy:

• Currency fluctuations: Euro and pound weakness against dollar affects year-over-year comparisons
• Different fiscal calendars: Reporting periods vary by country and company
• Varying definitions: “Black Friday” ranges from single day to entire week
• Limited standardized tracking: Not all markets have Adobe Analytics-equivalent data providers

Data quality notes: U.S. figures benefit from comprehensive tracking by Adobe, Mastercard, and other established analytics providers with decades of methodology refinement. International data often comes from regional platforms with different tracking capabilities, making direct comparisons approximate rather than precise.

The global expansion of Black Friday continues, but local market conditions and competitive retail calendars mean adoption patterns vary significantly by region.

Forecast: what to expect for Black Friday 2025

Industry projections for Black Friday 2025 suggest continued growth but at a more moderate pace, influenced by economic headwinds, evolving consumer behavior patterns, and the maturation of digital commerce channels.

Adobe & NRF projections

National Retail Federation (NRF) outlook:

• Overall holiday retail sales growth: 2.7-3.7% for 2025 season
• Total holiday spending projected: $979.5 billion to $989 billion
• Black Friday expected to remain top in-store shopping day
• Consumer caution due to inflation and potential tariff impacts

Adobe Analytics predictions:

• Online Black Friday sales growth: 6-8% year-over-year
• Projected 2025 online revenue: $11.4-11.7 billion
• Mobile share expected to reach 58-60%
• AI-powered personalization driving higher conversion rates

The more conservative growth projections reflect market maturation and economic uncertainty, but the underlying trend toward digital commerce remains strong.

Early-deal creep and its effect on single-day revenue

The trend toward extended promotional periods may impact traditional Black Friday concentration, as retailers spread deals across longer timeframes to manage inventory and logistics:

October “Early Black Friday” deals: 23% of retailers started promotions in October 2024
Cyber Week expansion: 5-day shopping period now generates 40% of traditional Black Friday volume
Impact on single-day metrics: May moderate growth rates as spending spreads across more days

This “deal creep” reflects retailers’ desire to avoid the operational strain of single-day volume spikes while capturing consumer attention earlier in the shopping season.

Retail technology trends for 2025

Artificial Intelligence integration:

• Personalized product recommendations driving 15-20% higher conversion
• AI-powered chatbots handling 60% of customer service inquiries
• Predictive inventory management reducing stockouts by 25%
• Dynamic pricing optimization based on real-time demand

Enhanced mobile experiences:

• Augmented reality try-on features expanding beyond beauty/fashion
• One-click checkout reducing cart abandonment rates
• Social commerce integration with TikTok, Instagram shopping
• Voice commerce through smart speakers gaining traction

Payment innovation:

• BNPL options expanding to smaller purchases under $50
• Cryptocurrency payment pilots by major retailers
• Biometric authentication streamlining mobile checkout
• Embedded finance solutions within shopping apps

These technological advances will likely drive the next phase of Black Friday evolution, making shopping more personalized, convenient, and accessible across all channels.

Frequently asked questions

What time of day sees peak Black Friday spending?

Peak online spending occurs between 8-9 PM EST, generating $12.3 million per minute according to Adobe Analytics. In-store peaks happen at door opening (typically 5-6 AM) and again during lunch hours (12-2 PM) when workers shop during breaks.

How many people shopped online vs. in-store on Black Friday 2024?

87.3 million Americans shopped online while 81.7 million visited physical stores. Many consumers used both channels, with 34% researching online before purchasing in-store, demonstrating the importance of omnichannel retail strategies.

How does Black Friday compare to Cyber Monday?

Black Friday 2024 generated $10.8 billion online vs. Cyber Monday’s $13.3 billion, making Cyber Monday the larger online shopping day. However, Black Friday’s combined online + in-store total ($20B) exceeds Cyber Monday’s online-only figure.

Which retailer made the most on Black Friday 2024?

Amazon captured an estimated 37% of online Black Friday sales ($4 billion), followed by Walmart (8%), Target (4%), and Best Buy (3%). In-store leaders included Walmart, Target, and Macy’s, though exact figures vary by measurement methodology.

What role does Buy Now, Pay Later play?

BNPL transactions reached $1 billion during the 2024 holiday period, with 75% occurring on mobile devices. Average BNPL order values ($189) were 33% higher than traditional payment methods, indicating consumers use flexible payments for larger purchases.

Are Black Friday discounts real?

Yes, but with important caveats. The average discount was 26% in 2024, though some “deals” reflect inflated original prices. Electronics and toys saw the deepest genuine discounts (31-33%), while beauty products had smaller markdowns (22%). Consumer protection agencies recommend price tracking tools.

Why did Black Friday revenue dip in 2021?

The 0.9% decline in 2021 resulted from supply chain disruptions, inventory shortages, and pandemic-related shipping delays that pushed purchases to other days or caused consumers to shop earlier in the season to ensure delivery.

Is Black Friday still the biggest shopping day globally?

In the U.S., Black Friday remains the largest single-day retail event combining online and in-store sales. Globally, China’s Singles’ Day (November 11) generates higher online revenue, but Black Friday has broader international participation across multiple channels.

Sources & references

• Adobe Analytics Digital Commerce Report — U.S. online sales data covering 1 trillion+ site visits and 18 product categories
• Mastercard SpendingPulse Black Friday Report — In-store and total retail sales across all payment types
• National Retail Federation Holiday Forecasts — Industry projections and consumer behavior surveys
• Statista Black Friday Germany Data — International market spending figures
• Statistics Black Friday — Global Black Friday revenue and trend analysis
• Digital Commerce 360 — Retail industry analysis and historical data