Photo by Tamanna Rumee
As Black Friday unfolds on November 29, 2024, shoppers across the United States are hitting stores in search of deals, despite concerns over inflation and a shorter holiday shopping season. Retailers are responding with a mix of exclusive products and significant discounts to attract consumers.
According to the National Retail Federation and Prosper Insights & Analytics, approximately 131.7 million Americans are expected to shop on Black Friday, contributing to an estimated 183.4 million shoppers between Thanksgiving and Cyber Monday. This year, many retailers have initiated promotions earlier than ever, with some starting as early as October to entice consumers who may be hesitant due to economic pressures.
The shift in shopping habits has been notable, indicating a significant change from previous years when Cyber Monday held that title. Retailers like Kohl’s and J.C. Penney have implemented engaging promotions, such as sweepstakes and giveaways, to draw in customers.
Despite the challenges posed by inflation and changing consumer behavior, the social aspect of Black Friday remains strong. Jay Zagorsky, a clinical associate professor at Boston University’s Questrom School of Business, remarked that while Black Friday’s significance is being slightly diminished, it still serves as a way for people to connect with one another.
For those participating in Black Friday this year, leveraging online resources for additional coupons and price comparisons is recommended to maximize savings during this pivotal shopping event.
For further details on this year’s Black Friday trends and consumer behavior, visit Associated Press.
Sources:
[1] https://www.cbsnews.com/news/black-friday-shoppers-store-across-us-spending-records-expected-to-fall/
[2] https://www.voanews.com/a/what-black-friday-s-history-tells-us-about-holiday-shopping-in-2024/7878886.html
[3] https://www.wsoctv.com/unavailable-location/
[4] https://apnews.com/article/black-friday-shopping-stores-2678816a0683519071426a991d89fecb
[5] https://www.reuters.com/business/retail-consumer/retailers-brace-black-friday-amid-shorter-selling-season-cautious-shoppers-2024-11-29/
[6] https://www.nbcsandiego.com/news/local/retailers-want-consumers-to-come-in-and-buy-black-friday-shoppers-hit-stores/3688194/
[7] https://www.news24.com/news24/southafrica/news/black-friday-frenzy-people-save-for-months-queue-for-hours-for-bargains-20241129
[8] https://www.iol.co.za/business-report/economy/sa-retailers-are-ready-for-black-friday-this-is-what-they-are-offering-5ebd587b-d7de-41a7-909d-b3afd62e6515
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