Black Friday, known for its amazing deals and busy shopping, has become a key day for shoppers and stores.
Our article gathers key Black Friday trends from different reports, offering vital information for anyone shopping online or businesses planning their shopping approach. These insights help both smart shoppers and savvy retailers get the most out of the event.
We cover everything from learning about the best deals from Black Friday 2023 to what to expect for Black Friday 2024.
Black Friday Statistics Highlights
- U.S. consumers spent $9.8 billion online on Black Friday 2023, making it the second-biggest day for online shopping between October and December (Adobe, 2024).
- In 2023, 72% of shoppers preferred online shopping for Black Friday, driven by convenience, free delivery, and price comparisons. This trend is expected to continue in 2024 (Salesforce, 2024).
- On Black Friday 2023, significant discounts were offered on toys, electronics, and apparel, with electronics seeing a 26.9% price drop (Adobe, 2024).
- Black Friday 2023 saw U.S. total retail sales (excluding auto) rise by 2.5% year-on-year, with e-commerce sales increasing by 8.5% (Mastercard, 2023).
- In 2023, 65% of shoppers expected Black Friday to offer the best discounts of the year, with a strong focus on quality and price (Salesforce, 2024).
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Black Friday Origin: The Quick Recap of History and Importance
This Black Friday overview provides a brief history of how the event evolved into a major shopping day starting from the late 1800s to the mid-1900s.
Black Friday originally signaled the start of Christmas shopping, with stores giving big discounts to draw people in. This idea grew, and now Black Friday is part of a bigger holiday shopping event, including Cyber Monday and, in some places, Boxing Day sales.
Black Friday is now celebrated in many countries, each with their own customs. It’s important not only for Black Friday sales volume but also as a cultural event, showcasing our shopping habits and marking the start of the holiday season.
Why is It Called Black Friday?
The term “Black Friday” first meant a financial crisis, specifically when the U.S. gold market crashed on 24 September 1869. In the 1950s, Philadelphia police named the heavy traffic and busy shopping on the day after Thanksgiving “Black Friday.” By the late 1980s, this term became popular all over the country.
Retailers started saying that Black Friday helped them make a profit (be “in the black”) after being in loss (or “in the red”) throughout the year, which is why it is associated with Black Friday profits.
Black Friday Shopper Behavior and Trends
In this Black Friday overview, we delve into shoppers’ behavior and preferences during Black Friday. We examine Black Friday stats on what people searched for, how their shopping habits evolved post-pandemic, and the trends observed during Black Friday in 2022 and 2023.
This analysis reveals, based on various Black Friday sales statistics, shoppers’ emphasis on finding good deals and quality products and how these preferences influence store retail strategies.
Black Friday Statistics on Early Interest and Search Trends
In 2023, some of the search volume related to shopping that contained “black friday” as part of the search term actually happened in October and in the days leading up to the day itself; although peak search interest was still on the day itself, 24 November 2023 (Google, 2024).
In fact, on Black Friday 2023, clicks rose by 23% compared with Black Friday 2022. This shows that consumers were researching products, tracking discounts, and comparing prices more than ever (Impact, 2023).
Consumer Spending
For Black Friday 2023, with major retailers such as Amazon, Walmart, and Target providing good deals, consumers had planned to spend their money on the following categories:
- Clothing, shoes, and accessories
- Electronics
- Grocery
- Toys
- Entertainment
Roughly half (46%) of respondents said that they spent between $75 – $300 on Black Friday 2023 (NIQ, 2023b).
Additionally, over half (57%) reported staying within their budget, with nearly a third (30%) saying that they spent a similar amount as on Black Friday 2022. This likely impacted the overall Black Friday profits for retailers (NIQ, 2023b).
Online Shopping Preferences
Comparing the number of online sales, desktops (6.5% conversion rate) performed slightly better than mobile devices (3.2%) on Black Friday 2023 (Adobe, 2024).
Black Friday Shopping Habits Post-Pandemic
Black Friday 2022 marked a significant shift in shopping habits post-pandemic, becoming the most popular day for both in-store and online shopping across the entire Thanksgiving weekend. This spike in Black Friday sales numbers reflects a return to pre-pandemic shopping behaviors.
In 2022, around 72.9 million consumers opted for in-person shopping, a notable increase from 66.5 million in 2021.
Simultaneously, approximately 87.2 million consumers shopped online, maintaining the heightened online shopping trend seen since 2021 (NRF, 2022).
In 2022, Black Friday saw a 2.3% year-on-year (YoY) growth in online shopping. This is an increase compared to the YoY growth recorded in 2021 (-1.0%) but a significant decrease compared to the YoY growth recorded in 2020 (+22.0%).
This indicates a gradual stabilization in online shopping trends as consumers adjusted to post-pandemic norms (Adobe, 2023).
The distribution of online orders based on shipping method on Black Friday 2022 was as follows:
- Standard shipping: 1.25
- Buy-online-pick-up-in-store: 0.9
- Expedited: 0.57
(Adobe, 2023)
In 2022, 81% of possible U.S. Black Friday and Cyber Monday shoppers said that getting the best price or value was their priority. At the same time, 80% said that it’s also important that the items they’re purchasing are also of the best quality. This shows that consumers balanced purchasing decisions on both price and quality (Google, 2022).
In September 2023, 62% of shoppers said that sales and promotions are even more important to purchase gifts this year compared with last year, suggesting that the economic impacts of the pandemic are still influencing shopping behaviors (NRF, 2023).
Retailers and Black Friday Sales
This section delves into how retailers fared during Black Friday, highlighting the effectiveness of their deals and the growth of sales in various categories thanks to Black Friday shopping results.
It covers key aspects like discounts, sales growth, and consumer preferences, reflecting on Black Friday stats and how these influenced shopping behavior.
Perception and Effectiveness of Black Friday Deals
Black Friday 2023 sales statistics revealed that global digital sales powered by Commerce Cloud grew 8% year over year (Salesforce, 2023).
However, only around a quarter (26%) of shoppers said that the Black Friday 2023 deals were better than those in 2022, with over a third (34%) describing the deals as the same as those in 2022. This reflects a mixed Black Friday performance (NIQ, 2023b).
Discounts
In 2023, Black Friday saw the following discounts on these products sold online:
- Toys: -28.0%
- Electronics: -26.9%
- Apparel: -24.2%
However, discounts were actually more significant on the following dates (between 1 October and 31 December):
- Toys: 23 November, -28.2%
- Electronics: 27 November, -31.4%
For apparel, discounts were best on Black Friday itself.
(Adobe, 2024)
Furthermore, discounts for additional product categories for online shopping on Black Friday 2023 were as follows:
- Computers: -23.5%
- Televisions: -23.4%
- Sporting Goods: -17.2%
- Appliances: -18.1%
- Furniture: -16.6%
(Adobe, 2024)
Sales Growth in Different Retail Categories
According to the Black Friday sales number provided by Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment, U.S. total retail sales (excluding auto) on Black Friday 2023 were up +2.5% YoY.
Meanwhile, e-commerce recorded an 8.5% increase year over year, and in-store retail sales were up +1.1% year over year, reflecting an increase in Black Friday revenue (Mastercard, 2023).
On Black Friday 2023, these were the top gift sectors:
- Jewelry
- Apparel
(Mastercard, 2023)
Consumer Preferences and Shopping Behavior
In 2023, U.S. consumers outlined the following top 10 factors as important when choosing where to shop for Black Friday or Cyber Monday.
Regional and Demographic Variations
The data on Black Friday shopping patterns reveals a snapshot of consumer behavior in Brazil, the United Kingdom, and Germany, showcasing diverse market dynamics. For example, in 2022, a notable 76% of global respondents marked Black Friday as a shopping day on their calendars (Simon-Kucher, 2022).
While these statistics focus on specific markets, they offer valuable insights into retail trends and consumer behaviors in these areas, showcasing a slice of the global excitement surrounding Black Friday sales.
Brazil
In Brazil, Black Friday 2023 was the second-worst in the history of the event since 2010 (Valor International, 2023).
The total Black Friday revenue recorded for the entire weekend (Thursday, 23, to Saturday, 25) was R$4.5 billion (-14.4% compared to the same period in 2022).
(Valor International, 2023)
Total revenue dropped due to a decrease in order volume (-15.5% compared to 2022).
Although the average amount each consumer spent increased slightly (+1.3%), this did not offset the drop in sales.
(Valor International, 2023)
The categories that saw the highest increases and decreases in sales on Thanksgiving and Black Friday were as follows:
- Cosmetics (+26.7% increase in sales compared to 2022)
- Apparel (+7.0%)
- Food and beverages (+6.0%)
- Home appliances (-26.8% drop)
(Valor International, 2023)
The UK
In the UK, total sales during Black Friday 2023 reached an estimated £13.3 billion, an increase of 7.3% compared to 2022 (Mintel, 2024).
In fact, more than half (52%) of Black Friday shoppers said that they were relying on sales more than usual due to the cost of living crisis (Mintel, 2024). This is what boosted Black Friday 2023 since higher-income households were also buying into the event.
Most UK shoppers (84%) agreed that they are likely to buy from the same store again if they had a positive experience during Black Friday (Mintel, 2024). This is especially relevant given that in-store Black Friday purchasing grew in 2023, with nearly half (44%) of shoppers purchasing a Black Friday deal in-store.
Germany
In Germany, Black Friday 2023 sales increased by 203% compared to an average day in October 2023 (Remazing.eu, 2023).
This put Germany in a growth leader position among five European core markets (Germany, UK, France, Italy, and Spain).
In fact, the number of products ordered nearly tripled (+180%), while views of product detail pages increased by 97% (Remazing.eu, 2023).
Black Friday Marketing and Advertising
Exploring Black Friday statistics reveals a dynamic landscape in marketing and advertising strategies. From evolving ad approaches to consumer engagement, these Black Friday facts and statistics not only reflect the effectiveness of different campaigns but also emphasize the impact of Black Friday shopping results.
Evolving Ad Strategies and Consumer Discovery Channels
In November, TikTok saw its monthly ad profits, known as Return On Ad Spend (ROAS), jump by 200% compared to October. This was one of the highest increases among all platforms (Fospha, 2023).
Other social media platforms also had big gains in their ROAS in November:
- Snapchat: +97%
- Pinterest: +67%
- Reddit: +32%
These increases are among the many Black Friday shopping statistics that show the power of social media marketing.
(Fospha, 2023)
Historically, companies have adopted various ad spending approaches:
- November Ramp (50% of companies): Gradually increased ad spending throughout November, peaking from Thanksgiving to Cyber Monday.
- In-Week Push (37%): Boosted ad spending during the Black Friday to Cyber Monday week.
- Weekend Blitz (13%): Concentrated ad spending on the Black Friday to Cyber Monday weekend.
(Fospha, 2023)
In November, brands changed their approach compared to October. They spent more on ads that encourage people to think about buying (consideration) or actually make a purchase (conversion) rather than just trying to get their brand known (awareness).
Here’s how their spending changed from October to November:
- For ads driving purchases: +33%
- For ads making people think about buying: +21%
- For ads just for brand awareness: -34%
The idea was to get customers who were ready to buy during the Black Friday and Cyber Monday sales.
(Fospha, 2023)
Surge in Advertising Effectiveness and Publisher Commissions
On Black Friday 2023, conversion rates were 12% lower than on Black Friday 2022 (Impact, 2023).
However, partner commissions skyrocketed, with growth recording a 15% increase compared to Black Friday 2022 (Impact, 2023).
Black Friday vs. Cyber Monday Statistics
On Black Friday 2023, U.S. consumers spent $9.8 billion online, contributing significantly to the overall Black Friday revenue (Adobe, 2024).
This meant that Black Friday 2023 generated less revenue than Cyber Monday but was still the second-most significant day in terms of online shopping spend between 1 October and 31 December 2022 (Adobe, 2024).
Despite this, Black Friday generated a higher increase in online global sales than Cyber Monday when compared to 2022. On Black Friday, online sales increased by 8%, while on Cyber Monday, online sales increased by 5% (Salesforce, 2023).
Interestingly, 46% of 2022 consumer holiday spending in the U.S. actually occurred after Cyber Monday and before 24 December. In fact, U.S. consumers spent as much in the three days post Cyber Monday as they did on Black Friday and Cyber Monday combined. This highlights that maintaining momentum after Cyber Weekend is important (Google, 2023).
Black Friday Statistics on Shopping Safety and Security
Black Friday, renowned for its extraordinary sales and deals, also brings significant safety and security concerns. In 2022 alone, the U.S. witnessed 734,174 shoplifting incidents, spotlighting the urgent need for heightened vigilance (FBI, 2022).
This section delves into the various safety challenges both in-store and online, offering essential Black Friday facts and statistics to ensure a secure shopping experience during the bustling Black Friday events.
Consumer Safety and Security Concerns
Over a quarter of U.S. consumers said that in past Black Friday shopping experiences, they were pushed or shoved by other shoppers (25.5%) (Drive Research, 2023).
When it came to online shopping, consumers expressed their concerns, with nearly a third saying that they were uncertain about how to shop securely (Norton, 2023).
In fact, more than half of the consumers expressed significant concerns regarding online shopping security. Their primary concerns include:
- Compromise of personal details (73% of respondents)
- Falling victim to cybercrime (67%)
- Scams by third-party retailers (64%)
- Receiving gifts that are digitally unsafe, such as being prone to hacking (53%)
- Scams ruining holiday travel or accommodation plans (53%)
- Accidentally receiving counterfeit gifts (51%)
- Receiving hacked devices as gifts (51%)
(Norton, 2023)
Online Shopping Scams
In 2023, one in four people reported being targeted by an online scam.
Victims globally reported encountering scams primarily on:
- Social media (46% of scam victims)
- Third-party websites (35%)
- Email (32%)
- Phone calls (29%)
- Text messages (28%)
(Norton, 2023)
Tips for Retailers to Ensure Safety on Black Friday
To ensure security in your store on Black Friday, consider these tips:
- Teach store workers how to spot and handle shoplifting;
- Put more workers on the shop floor to prevent theft;
- Show security steps clearly, like having guards and cameras;
- Arrange the store so everything is easy to see, especially expensive items;
- Workers should talk to customers often, which can stop shoplifters;
- Use modern security tech like alarms and tracking devices;
- Put up signs that explain the rules against stealing and what happens if you do;
- Keep the number of doors in and out of the store low for better control;
- Check shoppers’ bags at the exit, focusing on big bags.
Tips for Shoppers to Ensure Online Safety on Black Friday
To ensure safety when online shopping on Black Friday, follow these general guidelines:
- Avoid unfamiliar stores. Research their reputation, ratings, and reviews. Be wary of too many perfect reviews.
- Confirm that the website’s address begins with ‘https,’ particularly on the payment page, not just the homepage.
- Steer clear of deals that seem implausibly good, like highly discounted sought-after items.
- Use one of the best VPNs (Virtual Private Networks) for privacy, especially on public Wi-Fi.
- Create strong, unique passwords for shopping sites, emails, and financial apps, managing them with a password manager.
- Install antivirus software on your device for scam defense and alerts.
Black Friday and Sustainability
In 2023, 74% of U.S. consumers indicated that they cared about the environmental impact of the products they buy. These Black Friday sales numbers reflect a growing trend toward sustainable shopping, with the vast majority (79%) wanting an easier way to identify environmentally friendly companies (PDI, 2023).
In fact, more than half (53%) indicated that they want clear language on products, while 40% said that they want third-party or independent validation (PDI, 2023).
Despite the economic uncertainties in 2023, consumers revealed that they are increasingly willing to pay more for environmentally friendly products, with 68% saying so in 2023. This is up from 66% in 2022 and 64% in 2021 (PDI, 2023).
Gen Z is the demographic group most interested in environmental causes. Nearly all (91%) expressed that they want to buy from sustainable companies, and 40% think that corporations are doing poorly in reducing their carbon footprint.
With Gen Z’s climbing purchasing power, it becomes crucial for companies to situate themselves as environmentally conscious (PDI, 2023).
The Future of Black Friday
This section reveals Black Friday trends shaping the 2024 shopping season.
This segment unpacks evolving consumer preferences and spending patterns to offer insights into the factors driving Black Friday 2024 sales. It showcases the blend of in-store and online shopping dynamics, spotlighting the most sought-after deals and products.
Black Friday 2024 is more likely to become Cyber Friday 2024 (Salesforce, 2024).
Black Friday 2023 established itself as the biggest online shopping day of the year by gaining back 4% of online holiday sales. This trend is expected to flourish in 2024:
- 72% of shoppers prefer to shop online, while only 31% like to head to the store on Black Friday.
- The top three reasons for going online are convenience, free delivery, and the ability to search for the best prices.
The prediction is that online sales will take 7% of in-store sales on Black Friday.
(Salesforce, 2024)
Black Friday 2024 is also expected to have the best deals in the year:
- Two-thirds of shoppers say they’re holding out on making big purchases until Cyber Week, anticipating better deals.
- 65% of shoppers say Black Friday has the best discounts of the year.
(Salesforce, 2024)
The Bottom Line
In 2023, popular purchases included clothing, electronics, and toys, with a significant shift toward online shopping. Looking ahead to Black Friday 2024, Black Friday sales statistics suggest a continued preference for online shopping, with consumers increasingly focusing on deals and quality.
FAQs
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References
- Google Trends (Trends.google)
- Cyber Week 2023: Research Study Reveals Key Trends (Impact)
- Calculated Celebrations Report 2023 (Nielseniq)
- Black Friday by the Numbers – NIQ (Nielseniq)
- 2023 Holiday Shopping Trends & Insights (Business.adobe)
- Record 196.7 Million Consumers Shop Over Thanksgiving Holiday Weekend (Nrf)
- Holiday Shopping Report 2022 (Business.adobe)
- Holiday spending and shopping insights – Think with Google (Thinkwithgoogle)
- Consumers to Spend Nearly $900 to Celebrate the Winter Holidays (Nrf)
- Salesforce Data Reveals Record-Breaking Cyber Week: $298B in Global Digital Sales, $51B in AI-Influenced Purchases (Salesforce)
- Insights to keep up with deal-seeking shoppers – Think with Google (Thinkwithgoogle)
- Mastercard SpendingPulse: U.S. Black Friday retail sales up year-over-year | Mastercard Newsroom (Mastercard)
- Drive Research Black Friday Survey 2023 – Sharedexplore – Public-view (Surveys.driveresearch)
- Big Promo Days Study: Driving Promotional Excellence (Simon-kucher)
- Low sales make this year’s Black Friday the second worst ever | Business | valorinternational (Valorinternational.globo)
- UK Black Friday 2024 | Black Friday Trends Analysis (Store.mintel)
- Black Friday y Cyber Monday en Colombia: En 2022 crecieron pagos digitales frente a años anteriores (Semana)
- Analysis: Black Friday Week 2023 – Remazing (Remazing)
- Zwei von fünf Deutschen wollen dieses Jahr an Black Friday / Cyber Monday shoppen (Yougov)
- Black Friday Cyber Monday eCommerce advertising report 2023 (Fospha)
- CDE (Cde.ucr.cjis)
- 2023 Cyber Safety Insights Report (Filecache.mediaroom)
- 2023 Report: Do Consumers Care about Sustainability? | PDI Technologies, Inc. (Pditechnologies)
- Check Out Our 2024 Holiday Shopping Predictions | Salesforce (Salesforce)