Black Friday 2024 falls on November 29 and Thanksgiving falls on November 28. This major shopping event in the United States kicks off the holiday shopping season. It aims to attract people with huge discounts on retail items at this time of year.

Meaning of Black Friday

Black Friday has become one of the busiest shopping days of the year. This day is usually associated with deep discounts from retailers, resulting in high consumer spending. This year, it is estimated that the holidays could generate total retail sales of $989 billion, with consumers planning to spend an average of $771 per person3. This day is crucial for retailers as it can have a significant impact on their annual sales figures, which often account for almost a fifth of their total turnover.

Why is it celebrated?

The term “Black Friday” emerged in the mid-20th century, mainly in Philadelphia, where police used the term to describe chaotic crowds and heavy traffic that flooded the city as shoppers poured into stores after Thanksgiving. Initially it had a negative connotation because it was a challenging day for law enforcement. However, over the years, retailers have redefined the term to reflect a positive outcome: ‘going into the black’, which in accounting terms means profitability in terms of companies looking to increase their sales figures within this critical period.

Cultural importance

Black Friday has become an event that goes beyond a day of shopping. Now it is a social event, where friends and their family go shopping. The term is synonymous with consumerism, and it’s something to kick off the holiday season. Over the past few years, the event has gained popularity worldwide, so even countries that don’t have Thanksgiving are now using such strategies.

Shopping trends and offers

Sales will take place in the following main categories: electronics, clothing, toys and household goods. This will mainly be the electronics area. Discounts on electronic items such as TVs and computers are expected to be between 30 and 50 percent. Some stores sell during Cyber ​​Monday to make it a ‘Cyber ​​Week’, and online buying continues throughout the week.

Black Friday 2024 will be a key event on the retail calendars, with major budget cuts and a focus on great in-store and online experiences.

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