December 4, 2024 | Seattle, WA
With Black Friday and Cyber Monday 2024 now behind us, the dust has settled, and the shopping numbers are in. These twin events once again dominated the retail landscape, offering shoppers incredible deals both in-store and online. As the data shows, they continue to be iconic moments in retail, shaping how brands and consumers interact year after year.
This blog provides a comprehensive review of the 2024 shopping season, including key insights into anticipated trends, actual post-shopping data, and tips that can still help you plan for the year ahead.
A Look Back at Black Friday 2023
The numbers from Black Friday 2023 highlight shifting consumer behaviors and economic challenges:
$9.8 billion was spent online during Black Friday.
76.2 million people shopped in stores.
90.6 million people shopped online.
While the number of shoppers hit record highs, spending increased by only 2.5% year-over-year, failing to keep pace with inflation. Factors such as less appealing deals, a more spread-out shopping season, and cautious spending habits influenced these trends.
Black Friday 2024 in Numbers
The momentum continues in 2024 with strong sales growth:
$75 billion: Overall Black Friday sales in 2024 (a 5% increase from 2023).
$10.7-$11 billion: Total U.S. online sales during Black Friday, a 10.2% increase compared to 2023.
$74.4 billion: Global online sales, up 5% year-over-year.
However, in-store sales declined by 8%, indicating the growing dominance of e-commerce. On average, shoppers spent $674 during Black Friday, with participation reaching approximately 152 million Americans.
When Are Black Friday and Cyber Monday 2024?
Black Friday 2024: Friday, November 29 (the day after Thanksgiving), traditionally kicks off the holiday shopping season with doorbuster deals and in-store excitement.
Cyber Monday 2024: Monday, December 2, offering online shoppers discounts from the comfort of their homes.
Key Trends for 2024
Early Access Deals: Many retailers now launch sales as early as November, allowing shoppers to spread out their spending and avoid the rush.
Sustainability on the Rise: Eco-conscious shopping gains traction, with brands promoting environmentally friendly products.
Tech-Forward Shopping: Innovations like augmented reality (AR), personalized AI recommendations, and enhanced online experiences will shape shopping in 2024.
Luxury Meets Discounts: High-end retailers are participating more, particularly on Cyber Monday.
Mobile Commerce Dominance: Mobile shopping accounted for 57.6% of online sales, reflecting a significant shift in consumer behavior.
Buy Now, Pay Later (BNPL): Flexible payment options like BNPL are gaining popularity, especially for high-ticket items.
Top-Selling Categories in 2024
Electronics: TVs, laptops, gaming consoles, and smart home devices remain top choices.
Apparel: Both luxury and fast fashion brands are offering significant markdowns.
Toys: A perennial favorite among holiday shoppers.
Home Goods: Kitchen appliances, furniture, and decor are prominently featured.
Travel Deals: Airlines, hotels, and travel platforms offer enticing discounts for 2025 getaways.
Digital Subscriptions: Cyber Monday is ideal for scoring deals on streaming services and software.
Tips for Black Friday and Cyber Monday Success
Make a Shopping List: Decide what you need beforehand to avoid impulse purchases. Categorize items by priority.
Set a Budget: Stick to a spending limit to enjoy savings without regrets.
Research Early: Use price trackers and compare prices across retailers.
Sign Up for Notifications: Subscribe to newsletters and download retailer apps for early access to deals.
Plan for Cyber Monday: Bookmark websites and set reminders for flash sales.
Black Friday vs. Cyber Monday: Which Is Better?
Black Friday: Best for in-store shopping, large appliances, and tech items. Doorbuster deals are often exclusive to physical stores.
Cyber Monday: Ideal for online shopping, smaller electronics, and digital products. A better choice for avoiding crowds.
Check out the recap of the Black Friday presentation aired from episode 2 of Showroom here:
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