NEW YORK — After weeks of tempting customers with escalating discounts, retailers across the United States and other nations are gearing up for the high-stakes shopping event: Black Friday. Despite losing some of its former excitement, this day after Thanksgiving continues to be seen as the unofficial kickoff of the holiday shopping season.

Physical department stores, shopping malls, and various merchants view Black Friday as an opportunity to attract shoppers and boost in-store sales. With many consumers opting to shop online, traditional retail locations are relying on this iconic day to draw individuals out to shop in person. Still, Black Friday retains its status as the top day of the year for customer foot traffic in retail settings.

“I’m really looking forward to it,” said Emily Phillips, a Texas resident, during her visit to Galleria Dallas last week. “I save my desired items all year long and usually look to purchase them on Black Friday. I find shopping in person more satisfying because I can try things on, making it a better experience overall.”

Analysts in the U.S. predict a healthy holiday shopping season, although it’s expected to be not as vigorous as last year’s due to ongoing financial pressures facing consumers, despite easing inflation rates. Retailers are particularly keen on encouraging shoppers to buy early and in larger quantities this year, as there are five fewer days between Thanksgiving and Christmas compared to previous years.

The Mall of America in Bloomington, Minnesota, is enticing the first 200 shoppers in line at its north entrance with $25 gift cards. Target is set to release a special edition book highlighting Taylor Swift’s Eras Tour, accompanied by a limited album edition that will only be sold in stores on Black Friday, prior to availability online the following day.

Best Buy is reviving an extended version of its well-known doorbuster deals, providing a fresh take on its daily discounts. The prominent consumer electronics retailer has been rolling out these promotional deals through its app, online, and in-store every Friday since November 8, and intends to continue this campaign until December 20.

“Retailers really want Black Friday to perform well this year,” asserts Marshal Cohen, a retail expert from market research firm Circana. “They understand that capturing significant online sales growth is challenging with increased competition, so they need to succeed in brick-and-mortar locations.”

Cohen highlights that impulse buying and self-gifting could drive substantial sales growth, as in-store shopping generally boosts the likelihood of impulse purchases. According to Circana research, shoppers demonstrate a threefold increase in impulsive buying at physical locations compared to online venues.

As reported by the Commerce Department, consumers stepped up their purchases at American retail outlets in October, although most of that growth stemmed from auto dealers. Meanwhile, electronics, appliances, bars, and restaurants also registered sales increases, indicating healthy consumer spending overall.

The latest quarterly figures reveal disparities among retailers regarding customer spending. Walmart, the nation’s largest retailer, is entering the holiday period with strong momentum, buoyed by exceeding expectations with its sales in toys, home goods, and groceries. Conversely, Target reported weaker than anticipated numbers as cautious buyers reduced their spending on clothing and other non-essential items.

In a bid to counteract potential slowdowns, many retailers began their holiday promotions earlier this October compared to previous years. Shoppers were somewhat distracted by the recent U.S. presidential election, leading to a reported 9% drop in general merchandise sales during the two weeks ending November 9, although a rebound has been noted since then.

The National Retail Federation forecasts that consumer spending in November and December will rise by 2.5% to 3.5% year-on-year. Throughout 2023’s holiday shopping season, spending saw a 3.9% increase compared to 2022.

Currently, online sales are surpassing expectations, with consumers having spent $77.4 billion online from November 1 to November 24—a 9.6% rise compared to the same timeframe last year. Adobe projects potential growth of 8.4% over the complete holiday season.

Despite early promotions, analysts suggest that more attractive bargains will surface during Black Friday. The period spanning the Black Friday weekend, including Cyber Monday, is viewed as a crucial indicator of consumer spending behavior for the remainder of the holiday season.

Vivek Pandya, the lead analyst for Adobe Digital Insights, notes that shoppers are now more attentive to discounts than in prior years, and this focus on value will dictate purchasing trends. For instance, sporting goods, toys, furniture, and appliances are expected to have the deepest discounts on Thanksgiving Day, while Black Friday is anticipated to offer the best deals on televisions. According to Adobe, early-season discounts on TVs have averaged around 10.8%, whereas black Friday could see discounts soar to 24%.

Cyber Monday is predicted to be the optimal time to buy clothing and various gadgets such as phones and computers online, with electronics discounts likely to reach 30% off suggested retail prices on that day.

As Black Friday approaches, discounts are expected to peak at around 30% over the weekend before tapering down to approximately 15%, as indicated by Adobe’s research.

In the realm of physical retail, Black Friday is expected once again to be the busiest single shopping day of the year. Grant Gustafson, head of retail consulting and analytics at Sensormatic Solutions, emphasizes the significance of this day for retailers. “Black Friday remains a vital day for brick-and-mortar shops. Drawing shoppers in to experience browsing and interacting with products firsthand is paramount, as it will also help retailers forecast their sales for the holiday season ahead.”

The Mall of America is aiming to exceed its record of 12,000 visitors during the first hour post its 7 a.m. opening last year.

“People come seeking out deals, but more crucially, they seek the excitement, energy, and traditions tied to Black Friday,” remarked Jill Renslow, the mall’s chief business development and marketing officer.