After weeks of pushing early deals, retailers in the United States and some other countries are promising bigger discounts on Black Friday.
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A shopper passes a store advertising a Black Friday Sale on Regent Street in London, Thursday, Nov. 28, 2024. “Black Friday is still an incredibly important day for retailers,” Grant Gustafson, head of retail consulting and analytics at Sensormatic, said. “It’s important for them to be able to get shoppers into their store to show them that experience of what it’s like to browse and touch and feel items. It also can be a bellwether for retailers on what to expect for the rest of the holiday season.
Impulse purchases and self-gifting are a potential area for big sales growth, and business isn't going to increase without them, Cohen said. Shoppers are three times more likely to buy on impulse at a physical store than online, according to Circana research.in November and December by between 2.5% and 3.5% over the same period a year ago. During the 2023 holiday shopping season, spending increased 3.9% over 2022.
Vivek Pandya, the lead analyst at Adobe Digital Insights, said shoppers are paying more attention to discounts than last year, and their focus on bargain-hunting will drive what sells and when.
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