Overall retail spending held steady in November, according to Circana, growing 1% as unit demand remained flat from 2024, with Black Friday failing to provide a closing boost.
Emphasis on necessities, such as food, continued to take priority over other considerations as elevated prices have eroded consumer discretionary spending capacity. In the four weeks ended November 29, retail food and beverage sales revenue rose 2% and unit sales gained 1% versus the comparable period in 2024. Non-edible consumer packaged goods dollars were up 1% with unit sales down 1% year over year. Discretionary general merchandise retail dollar sales declined 2% as unit demand slipped 4% versus November 2024, according to Circana.
November closed with Black Friday week, which endured an almost 3% decline in discretionary general merchandise dollar sales and a 5% decline in units. Cyber Week kicked off December with a dollar sales decrease of 1.3% as units fell 4.4%. Combined, the two shopping weeks ending December 6, resulted in a 2% dollar decline, Circana maintained, and an almost 5% unit drop from the corresponding period a year earlier.
Few industries have been outperforming last year’s results so far in 2025, Circana pointed out. The list of winning categories was similar for both Black Friday and Cyber Monday weeks and included toy building sets, beauty products and arts and crafts products. The results demonstrate how the two events and the roles of physical stores and e-commerce are blending when it comes to promotions, timing and product focus, according to Circana. Instead of seeking out the hot new items, newness is coming from lifestyle classification, as in gifting products related to an individual’s hobbies and interests.
“Consumer prioritization is resulting in very specific pockets of growth at deeper levels within retail that are falling short of creating broader momentum,” said Marshal Cohen, Circana chief retail industry advisor, in announcing the November results. “Flat discretionary general merchandise sales so far in the fourth quarter of 2025 are revealing the pressure on consumer’s wallets, as well as the diminished impact of the peak holiday shopping weeks. The distinction between Black Friday and Cyber Monday has been lost. Shopping during this holiday season has become even less about coveting the deal and more about curating ideas around what to give as gifts. Uniqueness, innovation, convenience and socialization are now all critical to the formula for holiday selling. This is a trend that will continue into 2026 and needs to be ingrained in holiday 2026 planning.”
