Brigit, a financial company offering an app designed to help lower-income consumers manage money, has released its 2024 Black Friday and Cyber Monday spending report, which identified an increase in spending by paycheck-to-paycheck consumers in the period from Black Friday to Cyber Monday versus 2023.
Walmart, Amazon and Apple were the top retailers for such transactions, according to Brigit.
Brigit found its users spent 12.3% more per person during the Black Friday weekend, to a $145.33 total per average user, versus $129.42 per average user in 2023.
Other Bridget report findings about paycheck-to-paycheck consumers include:
- Single transaction size rose 5.7%, to $42.34, compared to $40.05 in 2023, as shoppers set out to make the most of seasonal discounts.
- Retailers with the biggest jumps in per-user, year-over-year spending were Temu, Walmart and Amazon, enjoying increases of 19.65%, 11.11%, and 8.68%, respectively.
- Retailers with the steepest declines in year-over-year spending per user were Macy’s, Nike and Shein, with decreases in spending per user of 4.31%, 12.33%, and 16.24%, respectively.
“We’re seeing Americans go to great lengths to budget smartly and find deals that make holiday shopping more accessible as they battle the increasing cost of goods,” said Zuben Mathews, Brigit co-founder and CEO. “For many retailers, the increase in consumer spending this past weekend signals a clear demand for budget-friendly options and emphasizes the value shoppers place on holiday deals and discounts.”
