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Black Friday and Cyber Monday 2024 were highly successful in the U.S., setting new records for online sales

Black Friday and Cyber Monday 2024 were highly successful in the U.S., setting new records for online sales. Cyber Monday online sales reached an estimated $13.2 billion, a 6.1% increase compared to 2023, making it the largest single-day online shopping event of the year. Similarly, Black Friday online sales grew by 9.9% year-over-year, hitting $10.8 billion.

Overall, the holiday shopping period benefited from increased consumer participation, driven by discounts across categories like electronics, clothing, and home goods. Retailers extended their sales periods, starting promotions as early as November 1, which also helped boost overall spending.

Retailer sales during Black Friday and Cyber Monday 2024 set new records, reflecting strong consumer participation. Total sales for the period from Black Friday through Cyber Monday reached approximately $75 billion in the U.S., a 5% year-over-year increase, marking a new all-time high. Cyber Monday alone drove $13.2 billion in sales, growing by 6.1% compared to 2023, solidifying its position as the biggest shopping day of the year. Online sales for the broader Cyber Week reached $40.6 billion, up 7% from last year, making up 16.9% of the total holiday season sales

Retailers benefited from month-long promotions leading up to Black Friday, helping consumers spread out their spending. In-store shopping saw significant participation, but online shopping was the dominant driver of growth, particularly in categories like electronics and home goods.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shinybull.com. The author has made every effort to ensure the accuracy of the information provided; however, neither Shinybull.com nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities, or other financial instruments. Shinybull.com and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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Black Friday 2024 is anticipated to be one of the largest shopping events in recent years

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.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shinybull.com. The author has made every effort to ensure the accuracy of the information provided; however, neither Shinybull.com nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities, or other financial instruments. Shinybull.com and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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