Black Friday and Cyber Monday are among the year’s most anticipated shopping events. These days mark the start of holiday spending for many as shoppers look to score the best deals and discounts ahead of Christmas. Retailers compete fiercely during this period, offering significant price cuts and promotions.
As Black Friday 2024 approaches, consumers and businesses are gearing up for what could be another record-breaking shopping season.
Black Friday 2024 is anticipated to be one of the largest shopping events in recent years, with several emerging trends and consumer expectations shaping the season:
Many consumers are starting their holiday shopping before Black Friday, with 63% planning to hunt for deals well in advance. This reflects a growing preference for extended sales periods that begin in mid-November, reducing the last-minute rush.
Electronics and fashion remain top priorities for most shoppers, with Gen Z particularly focused on fashion and beauty products. Baby Boomers, on the other hand, are showing increased interest in toys, likely for their grandchildren.
Shoppers are expecting significant markdowns, with a 30% discount often considered the baseline for a “good deal.” Bundled offers and bulk discounts are strategies retailers might use to meet these expectations while maintaining profitability.
Smartphone shopping continues to dominate, with over half of online purchases expected to occur on mobile devices. This trend emphasizes the need for mobile-friendly websites and apps.
Younger generations, especially Gen Z, value sustainability, influencing their buying choices. However, willingness to pay a premium for eco-friendly products remains limited.
E-commerce is expected to outperform brick-and-mortar shopping, continuing the trend from recent years where Black Friday online sales reached nearly $10 billion.
Retailers and consumers alike are adapting to these changes, making the 2024 season competitive and dynamic. Early preparation and tech-friendly shopping options are key for both buyers and sellers this year.
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Ket Garden
Shiny bull 