For many, Black Friday signals a day of relaxation following a traditional Thanksgiving dinner with family and friends. However, for avid deal hunters, there is no time for rest.
Historically, the day after Thanksgiving marks the commencement of the holiday shopping rush. On Black Friday, retailers traditionally showcase what they claim are the season’s best deals on popular gift items such as clothing, electronics, and toys. This year, however, retailers have deviated from the usual playbook, offering Black Friday-like deals weeks before the official date.
According to industry experts, this shift means that some of the prime deals may have already been available, potentially diminishing the impact of Black Friday. Alternatively, retailers may stagger their promotions, extending enticing deals beyond Black Friday to encourage continued spending leading up to Christmas. Black Friday signals
This matters because the November-December gift-buying months combined can account for about 20%, or a sizable chunk, of retailers’ sales for the full year.
The National Retail Federation, a trade group for the retail industry, forecasts holiday sales this year to increase 4% (not adjusted for inflation), slower than the 5.4% increase in 2022.
“Black Friday [is] more like Grey Friday. The dilution of the power of Black Friday has begun again this year. Gone is the sense of urgency and excitement. But the quest for value is still there,” remarked Marshal Cohen, the chief retail industry analyst with market research firm Circana.
In the past, scoring those discounts often meant waking up at the crack of dawn, camping outside favorite stores, and being among the first to seize the so-called “doorbuster” specials – those extra-enticing discounts offered for a limited time to attract early Black Friday shoppers. The mantra was clear: snooze, and you lose. However, with the changing retail landscape and the extension of promotional periods, the traditional intensity and urgency of Black Friday seem to be giving way to a more prolonged and less frenetic shopping experience.