NEW YORK—New data from PYMNTS Intelligence shows U.S. consumers pulled back on Black Friday in significant ways, delivering softer in-store traffic and a more restrained approach to holiday spending despite historically aggressive promotions.
According to PYMNTS, an estimated 151 million consumers shopped on Black Friday—down 7% from last year—as economic pressures continued to reshape household buying behavior. In-store traffic took the sharpest hit, falling 11%, despite retailers rolling out seasonal displays, giveaways and doorbuster events.
The research finds that 37% of consumers purchased fewer items than a year ago, a marked increase from 2024 and a signal that inflation, higher living costs and import-related tariffs are prompting shoppers to more carefully manage their budgets. Still, spending per shopper edged up slightly to $295, suggesting consumers were buying fewer items at higher prices.
Digital channels continued their steady ascent. PYMNTS reported s a 7% increase in online shoppers, with 77% of all consumers making purchases from their phones or computers. Use of conversational AI surged, with half of all shoppers—and two-thirds of Gen Z—relying on AI tools to research or complete purchases.
Payment strategies also shifted as consumers looked to manage strained finances. PYMNTS found that nearly 60% of consumers living paycheck to paycheck with bill-paying difficulty used credit cards with fixed-installment features, while more than half of Gen Z shoppers leaned heavily on card rewards. Buy now, pay later usage also ticked up slightly to 11.9% of purchases, compared with 11.7% a year earlier.
These findings are detailed in PYMNTS’ new report, Black Friday on a Budget: How Discipline and Deals Shaped Holiday Shopping in 2025.