Each year, millions of shoppers flock to stores during Black Friday weekend in search of the best bargains they have seen all year. Black Friday shopping begins on the Friday after Thanksgiving and concludes on Cyber Monday, the Monday after Thanksgiving. It traditionally marks the start of the Christmas shopping season in the United States. To boost sales and attract Black Friday shoppers, retailers nationwide host numerous in-store and online sales throughout the weekend. It is common for retailers to host highly promoted sales with huge discounts, and many stores even open early. This year, to the surprise of some, shoppers broke retail records both in-store and online.
For Black Friday weekend 2023, a record-breaking 200.4 million shoppers showed up at stores and searched for gifts online, according to a survey by the National Retail Federation. This year’s in-store shopper and gift search turn-out was millions higher than the National Retail Federation’s 2023 estimation of 182 million and was higher than 2022’s result of 196.7 million. Throughout the five-day weekend, the average shopper spent $321.41 on their holiday-related purchase, which is on par with what shoppers spent last year. Shopping increased online at 134.2 million this year, up from the 130.2 that shopped online last year. The top gifts of Black Friday 2023 were clothing and accessories.
Discussion Questions:
- What are the benefits of increased shopping during Black Friday on our economy?
- Why do you think more shoppers were active in store and online this year?
Sources| CNBC: www.cnbc.com/2023/11/28/black-friday-weekend-shopping-turnout-soars-to-a-record.html ; Unsplash: Photo by Claudio Schwarz on Unsplash