Black Friday and Cyber Week 2025 delivered another year of measurable shift in how the holiday peak window plays out across channels, retailers, and shopper behavior patterns. The data confirms several trends that have been building over recent years and adds a few new wrinkles that brands need to plan against for the 2026 holiday cycle. The shift is not a single dramatic break, it is a continuing evolution that compounds year over year.
The channel mix shift continued. Online channels captured a record share of holiday peak window revenue, with the gap to in store widening compared to 2024. Mobile commerce share of online continued to grow, with the smartphone now the dominant device for both browsing and purchasing across major categories. Retailer apps showed particular strength relative to general browser based shopping, with the loyalty member relationships and the app specific promotional offers driving meaningful engagement.
| Total US online holiday revenue (Thanksgiving through Cyber Monday) | over $40 billion |
| Mobile commerce share of online holiday revenue | over 55 percent |
| Buy now pay later usage growth | strong double digits year over year |
| Promotional discount depth (typical category) | flat to slightly shallower than 2024 |
| In store traffic on Black Friday | modestly down vs 2024 |
| Retailer app session growth | strong double digits year over year |
The promotional cadence stretched. The promotional window for 2025 effectively ran from late October through Cyber Week, with many retailers opening early Black Friday programming in early November and extending Cyber Week deals through the first week of December. The stretched promotional window has implications for brand promotional planning, with the peak concentration window less sharp than in prior years and the broader promotional period requiring more sustained marketing engagement.
The promotional discount discipline. Promotional discount depth in 2025 was generally flat or slightly shallower than 2024 across most categories, reflecting retailer and brand discipline around margin protection. The era of unprecedented discount depth competing for shopper attention has shifted toward more disciplined promotional architecture, with retailers and brands recognizing that excessive discounting trains the shopper to wait for the next deeper discount.
The buy now pay later expansion. Buy now pay later (BNPL) usage grew meaningfully during the 2025 holiday window, with shoppers using the payment option across categories from electronics to home to apparel. The BNPL volume now represents a meaningful share of online transactions in the relevant categories, and the implications for cart conversion, basket size, and post holiday return rates deserve attention in 2026 planning.
The shopper behavior patterns. Three patterns characterized 2025 holiday shopper behavior. First, deliberate research before purchase, with shoppers using multiple sources (retailer sites, review sites, social media, comparison apps) before committing to a purchase. Second, retailer loyalty member preference, with members of Walmart Plus, Amazon Prime, Target Circle, Kroger Boost, and similar programs showing higher engagement with their primary retailer than non members. Third, BNPL usage as a basket builder rather than a payment of last resort.
The brand implications for 2026. Four planning takeaways. First, the promotional window will continue to stretch, requiring sustained marketing engagement across a longer peak window rather than concentrated investment in a single weekend. Second, mobile commerce capability is no longer optional and must be built to a standard that matches the leading brands in the category. Third, retailer app integration and loyalty member targeting deserve disproportionate marketing attention because of the conversion advantage. Fourth, BNPL availability for the brand's category and price points should be evaluated and partnerships established with the relevant providers.
MOART perspective. Black Friday and Cyber Week 2025 confirmed that the holiday peak window has become a multi week marketing program rather than a single weekend event, with mobile and retailer app channels driving the most measurable conversion lift. For brands planning the 2026 holiday cycle, the marketing program should be designed around the stretched window, the mobile dominant shopper, and the loyalty member opportunity. The brands that adapt to these dynamics will outperform in the 2026 holiday window; the brands that plan against the historical concentrated weekend will leave revenue on the table.
