Black Friday 2024 promises big discounts, especially on electronics, marking a key event in the retail calendar. With high estimated consumer spending, it has become a global event that goes beyond shopping, symbolizing the beginning of holiday festivities. Both in-store and online deals are expected to make this a key retail moment.
Black Friday 2024 falls on November 29 and Thanksgiving falls on November 28. This major shopping event in the United States kicks off the holiday shopping period. It aims to attract people with huge discounts on retail goods during this time of year.
Meaning of Black Friday
Black Friday has become one of the busiest shopping days of the year. This day is often associated with big discounts from retailers, leading to high levels of consumer spending. This year, estimates predict that the holiday season could bring in total retail sales of $989 billion, with consumers planning to spend an average of $771 per person3. This day is important for retailers as it can have a significant impact on their annual sales figures, which typically account for nearly a fifth of their total sales.
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Why is it held?
The term “Black Friday” originated in the mid-20th century, primarily in Philadelphia, where police used it to describe the chaotic crowds and heavy traffic that flooded the city as shoppers rushed in. stores after Thanksgiving. Initially, it had a negative connotation because it was a challenging day for law enforcement. Over the years, however, retailers have redefined the term to reflect a positive outcome: going “black,” which in accounting terms means profit for businesses that want to Increase your sales figures during this critical period.
Cultural importance
Black Friday has become more than just a day of shopping. Now it is a social activity where friends and their families go shopping. The term is synonymous with consumerism and it is what kicks off holiday celebrations. In just the last few years, this event has become popular all over the world, so even countries that do not celebrate Thanksgiving are using such strategies.
Shopping trends and incentives
Sales will be cut across the following key categories: electronics, apparel, toys and home appliances. This will mainly be the electronics sector. Discounts on electronic items such as TVs and computers are expected to range from 30% to 50%. Some stores will have sales on Cyber ​​Monday calling it “Cyber ​​Week” and online shopping takes place all week long.
Black Friday 2024 will be a major event in the retail calendar, with deep cuts and a focus on great in-store and online experiences.
