Black Friday marks the unofficial start of the holiday shopping season every year. As one of the biggest shopping days on the calendar, it has become a major event drawing hordes of people and providing hundreds of discounts. This year, Black Friday 2023 will fall on November 24th, the day after Thanksgiving! This blog post will explore all you need to know about Black Friday 2023.
We’ll also discuss changes due to pandemic-related challenges and provide useful tips early shoppers can take advantage of over this long weekend – so stick around if you want to figure out how best to save money this upcoming Black Friday!
- Black Friday is an annual event that marks the unofficial start of the holiday shopping season, and this year, it’ll be celebrated on November 24th.
- Many retailers now use sophisticated strategies such as online campaigns, preorder prices, and early access discounts to bait shoppers leading up to this big day.
- Social media and influencers have become essential in promoting Black Friday sales as technology revolutionizes traditional consumer practices.
- Successful shopping during Black Friday requires advanced strategic planning; important steps include creating a budget, making a wishlist, comparing shopping, and researching available deals.
Understanding the Significance of Black Friday
Over time, the traditional holiday shopping season has been marked by increasingly busy bargain-hunting and deal-seeking that culminates on Black Friday.
History of Black Friday
Black Friday, the unofficial kick-off of the holiday shopping season, is a tradition that has been around for decades. The term was first used to describe the crash in Wall Street stock prices on September 24th, 1869, but later became symbolic of lucrative deals and great savings.
These days, though, Black Friday has evolved into a frenzied event dedicated to scoring massive discounts on big-ticket items from electronics and apparel to travel and toys. Most people assume that Black Friday started after WWII when factories all over America shifted from war production to consumer goods; however, it really gained popularity in the 1950s as an industry attempt at leveraging shoppers’ enthusiasm for post-Thanksgiving events like Macy’s Thanksgiving Day Parade in New York City or ‘the Miracle on 34th Street’ movie released in 1947.
In 1961, Philadelphia police officers called it ‘Black Friday’ because they were so busy managing crowds outside stores during these early sales events, and this name stuck despite many attempts by other retailers to market their own versions with different terms like “Big Thursday” or “White Wednesday.”
Evolution of Black Friday in Modern Times
Black Friday has come a long way since its origin as the kickoff to the holiday shopping season more than 50 years ago. While it still symbolizes massive savings and sales from brick-and-mortar stores, Black Friday’s evolution in modern times is tied to the rise of online shopping, technology, and social media usage patterns.
In recent years, many retailers have shifted their focus towards e-commerce platforms following a surge in online activity during major holidays like Christmas or Thanksgiving. This was especially true following 2020 when shoppers had to embrace contactless purchasing due to physical distancing requirements dictated by the COVID-19 pandemic.
Aside from seemingly endless deals being available online on Black Friday itself, leading up to that day, we now can find amazing preorder prices for electronics weeks before they even hit retailers’ shelves, as well as early access days with exclusive discounts reserved only for subscribers who track those events closely.
Impact on the Economy
Black Friday has become a significant contributor to consumer spending and economic growth, especially during the holiday season. In modern times, it is no longer just restricted to one day of shopping but instead has become an extended “Black Friday Month” event.
Since its emergence in the 19th century, Black Friday has evolved from an in-person experience into an online shopping extravaganza that lasts well beyond just one day each year. Retailers increasingly soak up shoppers’ budgets with earlier sales and special promotions during this month-long period, which usually commences at the end of November.
The impact that Black Friday had on consumer spending and overall economic activity cannot be overstated. According to Statista, 2019 saw US retail sales reach $3 trillion — fueled largely by marketing hype surrounding Black Friday deals, while economists have reported boosts in monthly retail figures equivalent to half a percent due solely to increased last-minute purchases preceding December holidays like Christmas or Hanukkah.
Moreover, trendy items such as electronics, clothing, accessories, etc., have seen their demand almost double around Christmas time, which could also be attributed partially to Black Friday discounts being offered towards those items.
The Role of Technology in Black Friday
The rise of the digital age has ushered in a new era for Black Friday shopping, with online stores offering even more deals and discounts than their brick-and-mortar counterparts as technology continues to revolutionize traditional consumer practices.
Rise of Online Shopping
The shift to online shopping has been accelerated by consumer behavior changes due to the pandemic and offline restrictions. Online Black Friday accounted for about 16.3% of retail sales (E-commerce/Last Year)
This shows that more buyers are turning away from traditional in-store shopping and turning towards online stores instead on this hectic day. In addition, major retailers such as Walmart, Amazon, Kohl, Target, Sephora, etc., offer discounts and deals through their e-commerce platforms or apps during Black Friday events making it increasingly convenient for shoppers to take advantage of these great savings from the comfort of home.
While browsing and purchasing items easily available online may be attractive compared with trudging out into the cold retail landscape during a global pandemic, there is also the risk associated with buying products without being able to examine them beforehand physically and having limited access to return policies or guarantees depending on what was purchased.
Role of Social Media and Influencers
Social media and influencers play a crucial role in the success of Black Friday. In recent years, social media has grown into an essential element of the shopping experience – it generates excitement while also connecting shoppers with key information and exclusive deals that influence spending habits.
Social media platforms such as Facebook, Instagram, Twitter, YouTube, and TikTok are becoming increasingly popular when it comes to targeting potential customers for sales events like Black Friday.
They promote early access announcements, sneak peeks at upcoming baskets full of products available on sale day, and trackable links providing special discounts or free delivery – which often leads to bigger purchases as well as better ROI for businesses.
Additionally, celebrated influencers have become ambassadors dedicated to advertising lucrative offers from major retailers ahead of and during Black Friday 2023 driving consumer engagement further up through highly visible sponsorship agreements.
Best Deals and Upcoming Sale Dates for Black Friday 2023
As the world eagerly looks forward to Black Friday in 2023, shoppers can now research retailers and discover upcoming sale dates and deals to maximize their savings.
Early Sales and Sneak Peeks
Black Friday is widely considered the annual kick-off to holiday shopping, and in recent years, retailers have begun moving deals earlier and earlier. In 2023, retailers are expected to put an even bigger focus on early sales and sneak peeks leading up to Black Friday.
For shoppers, this means there will be greater opportunities for value ahead of the traditional start of the holiday shopping season.
For stores, it can provide a competitive edge as they seek out new ways to capture consumer attention during peak periods such as Black Friday. Stores commonly employ sneak peek strategies by providing access to pre-Black Friday with exclusive offers or highlighting popular items early on so customers can research products before making their purchase decisions closer to Thanksgiving Day itself.
Popular Retailers and their Deals
Black Friday has become an increasingly popular shopping event among retailers, leading them to offer more and better deals to compete with one another. Retailers have been offering early Black Friday sales in addition to discounts for extended periods of time.
Popular retail stores such as Walmart, Amazon, and Target have all taken part in Black Friday by offering exclusive and limited-time deals that are unavailable at any other time throughout the year.
Various online stores also join the bandwagon by providing incredible Cyber Monday sales, which run through a whole week of activities associated with it at the same time every year. Consumers can take advantage of these offers or create custom deal bundles that are tailored to their tastes and needs.
Tips for Early Black Friday Shopping
To make early Black Friday shopping a success, planning ahead and understanding the key strategies for successfully navigating sales is important. This includes researching prices, drawing up a budgeting plan, creating an item wishlist before sale dates, comparing available discounts across retailers, taking advantage of loyalty programs and coupon codes where applicable, considering price matching opportunities when possible, and being mindful of store doorbuster deals.
Creating a Budget
Creating a budget for Black Friday sales is a key strategy for achieving success on 2023’s shopping spree. With expected consumer turnout hitting an all-time high, mastering the art of self-imposed spending limits can ensure shoppers walk away with great deals and savings.
To begin crafting an effective budget, it’s important to understand the history of this special retail holiday and its economic impact, as well as pay attention to potential inflation rates on set items so you can plan accordingly.
Understanding how successful Black Friday shopping works will help you make smarter decisions when it comes to your wallet – being aware of early sales sneak peeks, popular retailers, and their respective deals ahead of time, plus incorporating coupons or price matching into your list.
Making a Wishlist
Creating a wishlist for Black Friday shopping can be an effective way to get the most out of your shopping experience. Having a well-thought-out list before heading to stores or browsing online will help you focus on what’s important to you and avoid spending impulsively on unnecessary items.
Before creating your list, consider how much money you are able and willing to spend on each item, then prioritize and organize that list into must-have items versus nice-to-have items so there’s no confusion when the big day approaches.
You can even add notes about key deals and promotions associated with each item so you know exactly where to find the best prices. Taking some extra time upfront in order to prepare this kind of organized wishlist is invaluable when it comes time for Black Friday and Cyber Monday bargain hunting!
Comparing prices and shopping around is an important step of the Black Friday process. Investing a bit of extra time in researching the deals and finding out what retailers are offering can save you plenty of money on your purchases.
Price matching and loyalty programs from various retailers can also help shoppers get maximum benefits during Black Friday sales by allowing them to avail of additional discounts or cashback offers.
Comparison shopping requires customers to spend some time researching different brands, product types, and stores, among other variables so that they know which ones offer the best value for money.
For example, if there’s a laptop listed at two different prices from two separate sellers online take your time exploring both options further before committing to buy one over another.
It’s always wise to compare products across major e-commerce sites as well as local shops before making any purchase decisions on Black Friday sale days. Additionally, make sure you utilize price-matching opportunities whenever possible and use promotional codes or coupons for added savings on selected items from particular vendors.
Best Black Friday Deals to Expect in 2023
You don’t want to miss the incredible savings on offer next year, so stay tuned for an updated list of amazing Black Friday deals!
Categories and Products With the Best Deals
Black Friday is one of the most anticipated shopping days of the year, and although it originated as an “in-store” only event, now modern shoppers can benefit from deals across a variety of retailers and products.
Some industry analysts have estimated that Black Friday accounts for as much as 10 percent of annual retail sales in the United States. Over the years, many popular categories have emerged with frequently sought-after items such as electronics like gaming PCs or laptops, appliances like washers and dryers or refrigerators, fashion items (clothing/accessories), bedding collections by companies such as Stearns & Foster or Le Creuset kitchenware all offering deep discounts on Black Friday.
Technology has significantly changed how we shop for those discounts too; add to this online auctions or even social media influencers promoting various products at discounted rates during this time.
Year after year Amazon’s Prime Day has grown in popularity thanks to exclusive ‘Prime’ deals offered during its promotion window; likewise, Walmart+ brings special access to doorbusters throughout November that provides early access benefits before single-day Black Friday shocks arrive..
How to Find the Best Deals on Black Friday
With a little preparation and an understanding of the current marketplace, savvy shoppers can land some great deals on Black Friday; read on to get started.
Researching and Planning Ahead
Before heading out to shop on Black Friday, it’s important that you do your homework. Taking the time to research ahead of time can help save you money and make sure that you are getting the best deals possible.
Start by setting a budget and making a wish list of items that you want or need so that when attractive offers come up, you’re prepared. Comparison shopping is also a great way to save money as it helps identify which retailers offer better prices for certain items.
A great idea is also taking advantage of loyalty programs offered through stores as many times they give exclusive access to discounts before Black Friday even starts. Additionally, accessing websites such as PriceGrabber can be worthwhile since they provide an unbiased overview of products from different online shops in one place.
Taking Advantage of Loyalty Programs
Due to the prevalence of online shopping, fewer shoppers are turning out during Black Friday sales, but that doesn’t mean consumers can’t take advantage of deals. Taking part in loyalty programs creates a great opportunity to maximize one’s savings; for example, customers who shop through Walmart’s program save an additional 5% on purchases and even 1% at checkout with their Walmart Credit Card.
Amazon also offers its own Prime membership which grants exclusive discounts as well as access to streaming services like Prime Video and Music. Additionally, it pays off to look at e-commerce websites such as Dyson, GameStop, Nintendo Switch, or Thinkpads which offer special combinations aimed towards tech-savvy buyers.
Besides offering details about KitchenAid products Macy’s has come up with bundles featuring cookware and bakeware from popular brands like Lefroy Brooks and John Richard Collection.
Changes in Black Friday Shopping due to the Pandemic
The pandemic has seen a dramatic shift towards contactless shopping, with an increased emphasis on online and virtual options compared to traditional in-store retail. As such, retailers have adjusted their strategies to accommodate the change in consumer habits and preferences, offering deals tailored for e-commerce shoppers as well as providing more secure payment solutions.
Additionally, brick-and-mortar businesses have implemented safety protocols for customers who wish to shop in person.
Rise of Contactless Shopping
Contactless shopping has become the norm as it offers a safe, convenient, and efficient way to shop. With the pandemic impacting traditional in-person retail activities, digital technologies and e-commerce have quickly taken a central role in modern consumer behavior.
This shift meant consumers now experience the convenience of online shopping without worrying about social distancing protocols. According to projections by the National Retail Federation (NRF), an estimated 182 million consumers are planning to shop in stores and online through the five-day Thanksgiving weekend, with contactless commerce playing a key role.
Aside from enabling shoppers to easily browse products from their homes or on devices at physical stores, contactless payment options such as Apple Pay can provide customers with peace of mind knowing that there is no need for them to handle cash or swipe cards that others may have touched – minimizing their potential exposure risks which has been accurately identified by NRF research during this period of time.
Impact on In-Store Sales
In recent years, Black Friday sales have increasingly shifted from brick-and-mortar stores to online retailers. Consequently, this has had an impact on the success and profitability of traditional in-store shopping for Black Friday.
With more people opting to shop online due to convenience and often the availability of better deals compared to physical stores, many brick-and-mortar retailers are suffering a decrease in profits.
New efforts such as offering shop-early coupons with restrictions on items or a number of pieces have been made by some retailers to attract customers back into their stores but with limited success, since shoppers can now use price comparison apps and websites when buying offline.
The global pandemic has further exacerbated the challenge faced by physical stores as consumers stay home adhering strictly to social distancing guidelines. Despite some organizations pioneering contactless technology like curbside pickups or delivery services, in most places, this is still not widely available making it difficult for customers who prefer the tactile experience of handling products before purchase.
To counter that issue oligopoly brands started launching cutthroat deals appealing to both online & offline buyers leading them towards more consumer-friendly offers and helping move up internet penetration rates further accelerating the digital transformation process through E-commerce websites mobile wallets etc.
It’s ultimately up to each individual to weigh the pros and cons of Black Friday shopping in order to make an informed decision. With its expansive discounts and deals, there is still great potential for successful shopping during this holiday weekend, so long as shoppers do their research and stay mindful of budgeting and personal needs.
Weighing the pros and cons and making informed decisions
Black Friday is an important part of the holiday shopping season and has grown significantly in recent years with people buying more than ever before. As such, shoppers should make sure they are taking into account all the potential costs and advantages of Black Friday shopping to make an informed decision about participating or opting out.
For many consumers, one of the main pros of Black Friday is the potential savings that can be garnered through deep discounts. Many retailers offer doorbusters at incredibly discounted prices within a limited window – usually from late Thursday night through early Saturday morning.
Frequently Asked Questions (FAQs)
Here, get to know some other queries about Black Friday.
1. What is Black Friday?
Black Friday is a widely recognized shopping event that occurs annually on the last Friday of November. It features massive discounts and promotions, enticing shoppers with significant savings.
2. How long does the Black Friday event last?
Black Friday, now a globally recognized shopping extravaganza, spans from the last Friday in November to the subsequent Monday, known as Cyber Monday
3. What are door-busters?
Door-busters are special deals offered by retailers during Black Friday sales that have limited quantities available at drastically discounted prices for shoppers who show up first to stores or online sites offering these products.