Black Friday 2024: Will the Biggest Shopping Event of the Year Save the Day?

The biggest retail event of the year is almost here, and in many cases it has already started. In what has become an annual tradition, Black Friday no longer starts on the Friday following Thanksgiving. Almost every retailer kicks of the sale early, yet this year, the early deals haven’t been as widespread. Major retailers like Amazon and Walmart had their usual early Black Friday deals, yet we didn’t see as many deals stretching all the way back to October like the last few years. It’s well known that 2024 has been a difficult year and the success of Black Friday is a necessity for many companies. The general uncertainty caused by the election cycle has raised some concerns about the turnout for this event. Will this year’s deals be enough to draw in consumers and salvage an otherwise unremarkable year?

Early projections say that 2024’s Black Friday should surpass last year with an almost 10% increase in sales. This shouldn’t be too surprising as Black Friday has become the machine that never stops. Inflation and cautious consumers can certainly slow down the process, yet Black Friday continues to grow every year. A large part of that growth is online shopping which increases by almost 10% every year. The crazed crowds that nearly knocked down retailers’ doors are mostly a thing of the past and deals are now readily available at our fingertips. The continued prevalence of online shopping has given more buying power to consumers while easing supply chain strain and staffing concerns.

Consumers have been hesitant to purchase this year and part of that was due to the election. We may know who won the election, yet there is still uncertainty headed into the next administration. This could work in retailers favor as any consumers worried about prices rising early next year may be apt to make those purchases now and take advantage of the savings. Also, Black Friday is occurring slightly later than normal this year, meaning consumers and retailers will have less time until Christmas. This could cause some more aggressive pricing as stores look to make up the missed days.

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Like most years, tech is expected to be the top seller with big ticket items like computers and TVs to go quickly. Apparel will be another hot item along with home appliances. So far this year, retailers have had a more unified approach with most launching early deals in the same date range. We can expect some gamesmanship from the big retailers as we move closer to Friday and we will see some companies launch deals they’ve been holding back.

It should be another record setting year for Black Friday, even if the number won’t hit as high as retailers were hoping at the beginning of the year. The major players, like Amazon, Walmart, and Target, will see the most benefit, yet there is always space for smaller companies. Small Business Saturday will follow the conclusion of Black Friday and then we get ready for massive deals all over again on Cyber Monday.