Consumers Move to Establish Retail Credit Lines the Weekend Prior to Black Friday Causing Spike in Cards Issued

ATLANTA, Nov. 18, 2016

For the past four years, the Sundays before and after Black Friday have seen a fairly consistent 50% increase in the opening of retail credit card accounts over an average day in November or December. New retail credit card openings peak on Black Friday, when consumers on the average have continued to open nearly 3 times more retail credit card accounts.

Since 2012, on the average, in November and December, furniture stores have been the top issuer of store credit ($851M), followed by department stores ($790M), jewelry ($451M), electronics ($365M) and clothing ($241M).

"Furniture stores tend to have high-value incentives linked to store credit which drive purchases and likely account for their leading position in terms of credit issuance in the retail credit space," said Gunnar Blix, deputy chief economist, Equifax. "Even with compelling incentives across all the shopping categories, since 2012 we have been noticing a modest trend toward consumers showing more restraint in credit card usage."

Consumer credit data is the most accurate way to assess a consumer's financial health and a useful tool in assessing current economic performance. Equifax is working to revolutionize consumer credit information to enhance its offerings in support of consumers and economies around the world.  Over the last 10 years, Equifax has focused on utilizing the data it has on hand to support the sustainability of the financial marketplace, as well as the needs of creditworthy consumers

To view an infographic with the full analysis, visit: Black Friday Historical Trends

Source: Equifax Credit Trends, 2012-2016