When Is Black Friday 2024 This year Black Friday is on November 29. The day after Thanksgiving is considered a key day in terms of holiday shopping and shopping and it is no wonder, because this is the day when most retailers hold massive outdoor and online sales, forcing everyone to spend money on the holidays. If you also want to take advantage of this offer, then read this article completely
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A Brief History of Black Friday
In present times, Black Friday denotes a period of great offers, however courtesy of its late 20th century origins as a phrase used to describe an increase in sales volume for retailers because most of them went from ‘the red’ losses to ‘the black’ profits around this time. Over the years however, it’s transformed into a craze that is endured by people every year.
What To Expect from Black Friday 2024
World Record Spending Is Expected
The National Retail Federation anticipates that the cumulative total of holiday spending between November and December will equal $989 billion, which is an increase from $955.6 billion in holiday spending in 2023. Shoppers are anticipated to shell out an average of $902 on holiday essentials which will mostly cater for gifts and other seasonal items. For this reason, many may in fact plan to spend more with the same ill effect on actual purchases thanks to inflation.
Changes in Buying Patterns
With expenses increasing and disposable incomes tightening, there are possibilities that customers will neglect the likes of hypermarkets and instead opt for cheaper solutions, such as private label food and discount or some types of stores. As marketing professor Mark Bergen notes, “smart shopping” may also include using lower-priced store brands or curbing consumption.
Advantages for Store Members This time around too, availing of big deals will be more favorable more so to store members. Modifications of programs, for example, Target Circle, Walmart+, and Amazon Prime will provide members with options such as early access to offers as well as unique discounts. Brands run these programs to give specific offers to consumers without losing control over general prices in the market due to inflation.
Social Media
The New Shopping Hub Social media might not have been the typical definition of where you go shopping from especially for the old generation, but it has turned out to be one of the most appealing for the younger audiences. Useful items have increased in sales through Facebook Marketplace and also Tiktok Shop, the former being good to look for certain items whilst the latter is for the search of more trendy items. Citing from the chief spending officer of Chime, Janelle Sallenave, social media accessed by 99 percent of Americans results in them spending out the money, which averages $168 in six months.
Retail Policies Tailored for Shoppers
Many retailers implement more favorable policies during the holiday season to lessen the burden of shopping:
Robust Price Matching: Most stores will now open very early and/or close very late in order to give customers the chance to shop. Remember to always check the local hours of store operations.
Extended Store Hours Retailers offer Christmas returning period up to mid-January for the festive purchases. Keep in mind that some conditions may apply such as a receipt being needed or certain items from outside sellers being excluded.
Flexible Returns: Retailers extend return windows, sometimes until mid-January, for purchases made during the holiday season. Note that requirements like receipts or exclusions on third-party items may apply.
Retail Strategies Designed for Customers
Many retailers implement more favorable policies during the holiday season to lessen the burden of shopping:
Look Out for Early Black Friday Deals
Many retailers launch sales early, so don’t wait until Black Friday to start shopping. Here’s a quick guide to some early offers:
- Costco: A month-long Black Friday sale runs from November 1 to December 2, with fresh deals each week.
- Best Buy: Official Black Friday sales start on November 21, but special offers will be available as early as November 8.
- Sam’s Club: Their Black Friday deals are live from November 28 to December 1, with weekend online sales focusing on categories like tech and toys.
- Target: Early deals are available from November 7-9, with a rotating daily deal from November 1 through December 24 for Target Circle members.
- Walmart: Walmart’s deals roll out in phases. Online deals start on November 11, followed by in-store sales on November 15. Walmart+ members receive early access to select offers.
Smart Shopping in Challenging Times
With rising costs and stress from current events, approaching Black Friday with a plan is crucial. Here are a few tips:
Pause on Big Purchases: If you’re tempted by a large purchase, consider sleeping on it to ensure it aligns with your budget.
Shop Early in the Day: Shopping when you’re well-rested can help avoid impulsive purchases.
While there is no denying that Black Friday can be fun as well as crazy, a careful approach can help to transform it from an annual headache into an event worth looking forward to. Be cautious, think about shopping communities, and pay attention to pre-season sales to enjoy this season to the fullest. Happy shopping on this Black Friday!
Braj Verma is a resident of Rajgarh in Madhya Pradesh and is a content writer and freelancer by profession. He has a degree in Political Science from Barkatullah University, Bhopal. He has expertise in subjects like credit cards, banking, loan, insurance, political analysis and digital marketing.