After weeks of early deals, U.S. retailers are pulling out all the stops for Black Friday, promising even bigger discounts for the day that remains the unofficial kickoff of the holiday shopping season.
While the event has lost some of its traditional appeal, it still reigns as the top shopping day for in-store foot traffic, according to retail technology firm Sensormatic Solutions.
A Vital Day for Retailers
“Black Friday is still an incredibly important day for retailers,” said Grant Gustafson, head of retail consulting at Sensormatic. “It’s about getting shoppers into stores to experience products firsthand and setting the tone for the rest of the holiday season.”
Despite the rise of online shopping, Sensormatic data shows Black Friday continues to dominate in-store visits, fueled by a mix of deals and tradition. Retailers, from department stores to small businesses, see the day as crucial for driving sales and engaging shoppers.
Holiday Shopping Outlook: Cautious Optimism
This year, holiday shopping is projected to grow modestly, with the National Retail Federation predicting a 2.5% to 3.5% increase in spending over 2023. However, fewer days between Thanksgiving and Christmas mean retailers are pushing for early, high-volume sales.
Mall of America is betting on Black Friday energy, hoping to exceed last year’s opening-hour turnout of 12,000 shoppers. To draw crowds, the Minnesota mall is offering $25 gift cards to the first 200 people at its north entrance. “People come for the deals but stay for the excitement and traditions,” said Jill Renslow, the mall’s chief business officer.
Exclusive Deals and Strategic Discounts
Retailers are rolling out unique Black Friday offerings. Target is debuting an exclusive Taylor Swift Eras Tour book and album available only in stores for one day before online sales begin. Meanwhile, Best Buy is extending its popular doorbuster promotions throughout the season, releasing new deals every Friday through December 20.
Marshal Cohen, chief retail advisor at Circana, highlighted the competitive pressure on physical stores. “Retailers know they need to win in-store because online growth has plateaued in a crowded market,” he said. Impulse buys, a key advantage of physical stores, are three times more likely in person than online, according to Circana research.
Black Friday vs. Cyber Monday: The Best Bargains
While many shoppers have already snagged deals online, Adobe Digital Insights reports better bargains are arriving for Black Friday and Cyber Monday. Televisions see the steepest discounts on Black Friday, averaging 24% off, while Cyber Monday is the prime time for clothing, phones, and gadgets, with electronics discounts expected to hit 30%.
Across the five-day Black Friday weekend, discounts will peak at 30% on Cyber Monday before tapering off, according to Adobe’s analysis. Shoppers are increasingly focused on finding the best deals, with bargain-hunting driving purchase timing and product popularity.
As the holiday shopping season ramps up, Black Friday remains a critical barometer for retailers and a spectacle for shoppers seeking both savings and tradition.
Sales from now till Cyber Monday are expected to hit $75B, the entire Christmas shopping season it could reach close to one trillion.
