Circana: November sales steady, but key holiday shopping weeks lack momentum
Overall retail spending held steady in November, but Black Friday week and Cyber week combined resulted in a 2% dollar and nearly 5% unit decline from last year.
That’s according to a report from Circana, which said that spending on necessities like food continues to take priority, with elevated prices eroding the consumer’s discretionary spending ability. Overall U.S. retail sales in the four weeks ending Nov. 29 grew 1%, while unit demand remained flat once again compared to the same time in 2024. Retail food and beverage sales revenue rose 2%, and unit sales were up 1%.
Non-edible consumer packaged goods dollars were up 1%, while unit sales declined 1%. Discretionary general merchandise retail dollar sales declined 2%, and unit demand fell 4% compared to the same period a year ago.
“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, chief retail industry advisor for Circana. “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.”
November closed out with the week of Black Friday, which brought a nearly 3% decline in dollar sales of discretionary general merchandise and a 5% decline in units. Cyber Week kicked off December with a dollar sales decline of 1.3% and units falling 4.4%. Combined, the two shopping weeks ending Dec. 6, 2025, resulted in a 2% dollar decline and a nearly 5% unit drop from last year.
The very specific pockets of growth at the category level means very few industries are outperforming last year’s results thus far, according to Circana. The list of winning categories was similar for both Black Friday and Cyber Monday weeks, including categories such as toy building sets, beauty products, and arts and crafts products, demonstrating how the two events and the roles of physical stores and e-commerce are blending when it comes to promotions, timing, and product focus.
Instead of seeking out the hot new items, newness is coming from lifestyle classification — gifting products related to an individual’s hobbies and interests, noted Circana.
“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,” said Cohen. “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.”
