Black Friday 2023 is expected to continue its impact on the retail sector, with many retailers offering special sales and offers. According to TheBlackFriday.com, carriers like Verizon, AT&T, Sprint & T-Mobile, and stores like BestBuy are expected to offer up to $300 gift cards with iPhones. Walmart, Target, BestBuy, and Amazon are expected to offer the cheapest laptops, TVs, and video games. Black Friday statistics for 2023 highlight the significant impact of this shopping day on the retail sector. Despite the challenges brought by COVID-19 disruptions to the economy and changes in buying habits, Black Friday saw an impressive 22% growth in 2020, with sales reaching $9 billion in the U.S. However, in 2021, online spending by U.S. consumers dipped slightly to $8.9 billion, showcasing a modest decrease from the previous year’s average. According to Siteefy, Black Friday sales were predicted to see 1% year-over-year growth in 2022.
Although Thanksgiving in November is unique to the United States, the Black Friday shopping frenzy has caught on worldwide, especially with the rise in online shopping. Once a one-day-only event, Black Friday has changed into season-long promotions and deals designed to draw in customers. Retailers have often relied on this shopping surge, and the term “Black Friday” refers to their ability to recoup year-long losses in the weeks leading up to Christmas. Therefore, we have gathered everything you need to take into account and be ready for another year of shopping craze.
Black Friday 2022 in recap
Black Friday 2022 was a unique event, especially in the backdrop of impending inflation. The shopping day saw a significant increase in sales compared to the previous year, with many retailers offering special deals and discounts. Here’s an overview of 2022’s trends and patterns:
- Consumer Behavior: As inflation became a more pressing concern in 2022, many consumers postponed their purchases to capitalize on Black Friday deals, particularly in categories such as electronics. Anticipated behavior suggested that higher-income shoppers were becoming more budget-conscious. Major retailers noted a decline in discretionary spending over the course of 2022, as consumers grappled with escalating grocery expenses.
- Retailer Performance: In light of the evolving economic landscape in 2022, numerous retailers adjusted their forecasts for the quarter even before Black Friday. Specifically, Target revised its Q4 projections downward in November following earnings that fell short of anticipated figures.
- Online Spending: Data from Adobe Analytics for 2022 indicates that Black Friday online expenditure amounted to $9.12 billion, marking a 2.3% increase year over year.
- Buy Now, Pay Later (BNPL): As our recent retail study predicted, Recognizing the financial strain many consumers felt in 2022, BNPL options emerged as an attractive solution, enabling shoppers to procure their desired items. Deloitte’s projections for Black Friday 2022 indicated a rising inclination towards these services: 48% of those surveyed anticipated using credit cards, while 37% foresaw utilizing BNPL. Adobe’s data further underscored this trend, revealing that on Thanksgiving Day, online BNPL revenue saw a 1.3% year-over-year increase, with orders rising by 0.7%.
- In-store Black Friday traffic: A strong turnout was recorded, with the in-store traffic rising by 2.9% compared to 2021 on Black Friday, according to Sensormatic Solutions by Johnson Controls. On the downside, the week ending November 26, 2022, which encompassed Thanksgiving, Black Friday, and Small Business Saturday, saw a sales revenue decline of 5% compared to the same week in 2021, with unit sales down 8% as reported by The NPD Group.
Black Friday 2022 Statistics per retailer:
Target: Target underperformed during Black Friday 2022, missing quarterly expectations with a profit margin of 3.9%, lower than its 5.35% estimates. The retailer attributed a major portion of the low revenue to retail thieves.
Lululemon: This retailer emerged as one of the biggest winners during Black Friday 2022, achieving strong traffic results despite similar or lower year-over-year discounting levels or discounting activity below total sector averages, indicating that their assortments likely resonated with consumers.
American Eagle Outfitters: Like Lululemon, American Eagle Outfitters also saw strong traffic and was named as one of the biggest winners of Black Friday 2022, suggesting a positive consumer response to their offerings.
Victoria’s Secret: Victoria’s Secret was also among the winning retailers during Black Friday 2022, with strong traffic results despite the discounting trends, indicating positive consumer engagement.
Best Buy: Best Buy faced increased promotional intensity during Black Friday 2022, which led to a Sell rating reiteration by analysts, indicating a less favorable performance. The increased promotions were seen as a response to consumers being more targeted with their store visits as opposed to casual browsing, likely prioritizing online shopping for bargain hunting.
Hottest Black Friday Trends for 2023
Here are the top 10 trends predicted for Black Friday 2023 in the ecommerce sector:
- Elevated Average Order Value (AOV): Expectations point to a rise in AOV, suggesting consumers will be spending more for each transaction.
- Growth in Mobile Transactions: A surge in sales through mobile devices is anticipated, signaling a change in how consumers shop.
- Social Media Marketing: Brands are set to amplify their Black Friday promotions on social media platforms more than any prior year.
- Expansion of Buy Now, Pay Later (BNPL): Considering the current economic challenges, BNPL options have emerged as popular choices for consumers to procure their desired items without immediate financial strain.
- Preliminary Access Initiatives: Retailers are gearing up to introduce more “pre-sale,” “preview,” or “early access” promotions, aiming to heighten enthusiasm and offer a premium feel to their subscribers.
- Diverse Payment Options Preferred: Retailers offering a broader array of payment options are likely to be more favored by consumers.
- Younger Buyers Leading BFCM Purchases: Black Friday Cyber Monday (BFCM) sales are projected to be driven primarily by a younger demographic.
- Continued Focus on Omnichannel: The relevance of omnichannel approaches in retail is anticipated to remain robust.
- Rise of Hybrid Shopping: Merging online and physical store shopping experiences, known as hybrid shopping, is seeing increased adoption.
- Engagement via Livestream and TikTok: Retail entities are looking to platforms such as livestreaming and TikTok to bolster their holiday sales.
Black Friday and COVID-19 statistics
Perhaps the most significant impact on holiday shopping in 2020 and the retail industry as a whole was the COVID-19 pandemic. Thousands of retailers closed, and others stayed afloat by pivoting to online sales. On the other hand, customers took advantage of an omnichannel behavior that would limit their time spent in stores. COVID-19 had a definite impact on the retail sector, visible in the Black Friday statistics below.
- In 2020, over 180 million people in the United States shopped in-person or online on Black Friday and throughout the following weekend. (National Retail Federation)
- Over half (52%) of customers who shopped online in 2020 took advantage of Black Friday deals that were posted prior to Black Friday. (National Retail Federation)
- In-store shopping on Black Friday 2021 declined by 21.7% compared to 2019. (Sensormatic Solutions)
- Online shopping has been steadily growing for a while, but in 2020, European retailers saw the average number of items per order grow by 60%. (ContactPigeon)
- Shopper traffic over the Black Friday 2021 weekend climbed by 34.2% from 2020, indicating a steadily improving picture for retailers. (Sensormatic Solutions)
- Australia had a well-coordinated response to the COVID-19 pandemic. COVID lockdown restrictions had eased by December 2020, and holiday shopping grew over 2019 by 21% in Victoria and about 3% in the rest of the country. (Australian Bureau of Statistics)
- Independent retailers fared well in 2020, as 44 million shopped from direct to consumer sites powered by Shopify. (Business Wire)
- Approximately $5.14 billion was spent by consumers on Thanksgiving in 2021. (DigitalCommerce360)
Black Friday vs. Cyber Monday Statistics
Cyber Monday has grown to be equally popular with the surge of online retail. Retailers lure customers onto their e-commerce sites with timed deals and steep discounts on the Monday immediately following Black Friday. As it seems, Cyber Monday is rapidly starting to eclipse Black Friday in sales, as outlined in the following statistics.
- In 2020, Cyber Monday has been gaining steam for a while, and sales surpassed those of Black Friday in 2019. Total Cyber Monday sales in the United States were $9.4 billion, while Black Friday sales totaled $7.4 billion. (Business Insider)
- Sales on Cyber Monday in 2021 totaled $10.7 billion, down 1.4% from 2020. Online sales on Black Friday were also down 1.3% from the previous record of $9.03 billion. (TechCrunch)
- Even those who were interested in in-store deals still took the time to look online. Nearly two-thirds (68%) of shoppers went online before looking in store for an item. (Consumer Decisions)
- The average order value peaked at $164 on Cyber Monday. (Big Commerce)
- Cyber Monday sales in Australia rose 223% in 2020 over 2019, and the average customer spent $286. (Cyber Monday Global)
- On average, Canadians conduct 1 of 5 online shopping transactions during the weekend of Black Friday, and they spend $365. Popular Black Friday weekend retailers in Canada include The Source and Staples. (Cyber Monday Global)
- One perceived motivator that drives Cyber Monday sales is the fear of missing out, boosting sales in the waning hours of the day. (Adobe)
- 2020 Cyber Monday sales fell short of projections by about 10%. (Radial)
- Amazon Marketplace sales were up 60% over the previous year. (CNBC)
- Items discounted by the highest percentage were electronics. (Adobe)
Tip: Check also all the Cyber Monday statistics a retailer shouldn’t miss.
Important Black Friday retail statistics per country
Thanksgiving may primarily be a North American holiday, but the end of November often signals the beginning of the shopping season on a global scale, with retailers noticing an uptick in revenue all over the world. Following, these notable Black Friday facts and statistics will aid you in getting a better grasp of this day’s universal impact.
Black Friday statistics – United Kingdom
- Black Friday has not caught on as quickly in the UK as it has throughout the world, but it generates more sales throughout the weekend than in other European countries. In 2019, Black Friday and Cyber Monday generated 8.566 million pounds in the UK. (Statista)
- COVID-19 impacted Black Friday sales in the UK, as retail sales dropped by over 10% compared to the previous year. (The Guardian)
- Popular Black Friday items in the UK include iPhones, Panasonic TVs, and gaming systems. (Much Needed)
- The average Black Friday discount offered in the UK is 62%. (Black Friday Sale)
- In 2019, online UK retailers received 194 million visits. (BlackFriday)
- In the UK, Black Friday deals may start as early as October but peak in November. (eCommerce United)
Black Friday statistics – United States
- In 2019, 93.2 million Americans shopped online on Black Friday. (SpendMeNot)
- The main reason Americans cite for shopping on Black Friday is free shipping, indicated by 49% of survey respondents in a study conducted by the National Retail Federation. (National Retail Federation)
- In the United States, 34% of Millennials indicated that they plan to spend more this year than in 2020. (GWI)
- In 2019, Smartphones accounted for 36% of online revenue and, in November and December, 58% of retail site traffic. (Adobe Holiday Shopping Report, 2019)
- In 2019, 84.2 million people in the United States shopped in-store during Black Friday sales. (National Retail Federation)
- Over 3/4 of Americans (77%) were more interested in supporting small businesses over Black Friday weekend in 2020 than they were before the pandemic. (National Retail Federation)
Black Friday statistics – Rest of Europe
- In Germany, shoppers expect Black Friday and Cyber Monday discounts of more than 10%. Steep markdowns attract the German customer. (Statista)
- In 2019, Spanish retailers saw 444% growth in sales on Black Friday versus during the first four weeks of October. (Criteo)
- French retailers saw a 201% increase in sales on Cyber Monday compared with sales during the first four weeks of October. (Criteo)
- Over half (53%) of Spaniards want to shop for fashion on Black Friday in 2021, followed by shoes and accessories at 39%. (Statista)
- The average Black Friday expenditure in France has declined since 2017, reaching a low of 97 euros in 2020. (Statista)
- German consumers largely shop for electronics during Black Friday weekend, with top searches ranging from Nintendo Switch to iPad. (eCommerce Germany)
Black Friday statistics – Australia
- In Australia, Black Friday has grown significantly in both awareness and popularity in the past five years. In 2017, 24% of Australians were unaware of this shopping day, while only 4% were unaware in 2020. (McCrindle Research)
- Of those who were aware, about 1/3 were not planning on participating in Black Friday sales. (McCrindle Research)
- Online sales made up 11% of the increase in Australian sales in November. (News.com)
- Australian Black Friday sales skyrocketed by 80%, making it the country with the 4th highest retail sales over that weekend. (MarketingMag)
- The average Black Friday markdown in Australia is 53%. (Black Friday Global)
- It is estimated that Australians spend approximately $170 on Black Friday deals. (Black Friday Global)
Black Friday statistics – Asia
- Amazon teamed with Chinese tech brand Baidu to offer more than 20 million products to Chinese consumers during the week of Black Friday in 2020. (KrAsia)
- In other Asian countries, people shopped the most at the end of the Sunday following Black Friday and on Cyber Monday. (Rakuten)
- In 2018, retailers in India experienced an increase in sales of 828% over other shopping days. (Black Friday Global)
- India’s Black Friday sales peaked from 6 PM until midnight. (Black Friday Global)
- In 2018, the average Black Friday transaction in Singapore contained four items. (Black Friday Global)
- Shopify sales in Japan grew by 347% in 2020. (Business Wire)
Black Friday statistics – Africa
- In 2019, 67% of South African Black Friday shoppers only shopped in a physical store. (Geo Poll)
- Although Black Friday can be hit or miss in South Africa, 70% of people indicated that they would participate if the sales were good enough. (Finder)
- In 2019, Nigerian retailer Jumia had more than 3 million Black Friday orders and over 100 million site visits through its app. (TechNext)
- Of Nigerian shoppers who participated in Black Friday in 2019, 60% shopped on Black Friday as opposed to other days on the weekend. (Picodi)
- Kenyans had the opportunity to buy discounted produce, food, clothing, and medicine, besides electronics in 2019. (Xinhuanet)
Black Friday eCommerce statistics
There are many reasons people might be more inclined to shop online. For one, traditional Black Friday deals have often required shoppers to line up early before the good items are gone. Black Friday sales have also sparked violence in some stores. Whatever the reason, shoppers are shifting from in-person to online shopping throughout Black Friday weekend.
- Over half (59%) of online sales in 2019 were made on desktop computers, followed by over a third on smartphones (37%). (eCommerce Guide)
- In the United States, 36% of people plan on spending more than they did last year throughout the holiday season. (SiteCore)
- From Thanksgiving to Cyber Monday in 2019, the average order value rose from an average of $152.95 during the rest of the holiday season to $162.03. (Statista)
- In 2020, 100 million customers shopped online throughout Black Friday weekend. (BlackFriday.com)
- In the United States, the top-selling products consisted of electronics, toys, and appliances. The average consumer spent $27.50 per person. (Adobe)
Black Friday in-store statistics
Because the massive shift to online shopping in 2020 was due in large part to the COVID-19 pandemic, it remains to be seen whether shoppers will stick with digital shopping in 2021 or if they will opt for in-store purchases. Labor shortages are predicted to impact delivery times this year, so customers might choose to shop in-store to make sure they have their gifts on time. Other in-store statistics to be aware of include the following.
- In 2019, 124 million people shopped in stores, while 142.2 million shopped online, showing that the shift to digital was already in progress. (National Retail Federation)
- Slightly less than half (46%) of people enjoy Black Friday shopping in stores with their friends as a holiday tradition. (Deloitte)
- Black Friday foot traffic was down 52% in 2020, primarily because people were concerned about health and safety. (Market Watch)
- More than 20% of shoppers spend 90% of their Black Friday budget on gifts, while others take advantage of deals for themselves. (Balancing Everything)
- In 2020, 46% of the customers preferred shopping in-store with family and friends as a Black Friday tradition. (Deloitte)
Other important Black Friday statistics to consider
- Women make up a slim majority of Black Friday shoppers at 50.4%. (SpendMeNot)
- Of all retail sales throughout the year, 30% are made during the holiday shopping season. (SpendMeNot)
- Black Friday-related violence is highest in southern states, but there have been incidents across the country. (Reviews.org)
- Of the stores that have reported Black Friday incidents, Walmart cited the highest amount at 57.1% of reported instances. (Reviews.org)
- In 2019, online retailers reported a 79.8% shopping cart abandonment rate. (Finances Online)
- Many Black Friday shoppers look for deals on their phones as 58% of traffic came to online retailers through mobile devices. (Finances Online)
- Only 36% of online Black Friday sales in 2019 were made on mobile devices. (Finances Online)
- Over half (56%) of shoppers start their holiday shopping at the beginning of November. (National Retail Federation)
Black Friday statistics of 10 retail giants
One of the most popular Black Friday retailers is Amazon, which accounted for over half (54.9%) of all Black Friday sales in 2020. These tidbits include other important statistics from a list of the top 10 retailers worldwide.
- In 2019, Amazon’s top-selling Black Friday items included a Star Wars Lego set and the Echo dot. (Huffington Post)
- Walmart’s 2020 Black Friday sales totaled $76 million. (Jungle Scout)
- Target’s November 2020 sales rose by 156% over the previous year, making it one of the most successful of that year. (Retail Dive)
- In 2020, Costco experienced a website outage during the crucial Black Friday period that impacted online sales by about 20%. (SuperMarket News)
- Home Depot and other major retailers decided to offer Black Friday sales over a two-month period in 2020 to make the shopping experience safer for customers. (Impact Plus)
- UK retailer John Lewis experienced a 43% uptick in sales through its mobile app on Black Friday 2019. (The Guardian)
- Sephora offers many of its in-store deals online with promo codes, and frequent buyers can receive extra discounts. (Black Friday Global)
- In 2015, UK retailer ASDA pulled the plug on Black Friday following a series of violent incidents the year before but has since reintroduced holiday shopping discounts. (The Sun)
- Tesco was another victim of technical issues related to increased online shopping demand. In 2019, its site crashed and led to a loss in sales. (IMRG)
- Over 150,000 shoppers went online to take advantage of Aldi’s Black Friday deals in 2020, crashing the site. (Manchester Evening News)
Discover more Black Friday resources
- Black Friday Checklist: A 50-Spot Last-Minute Audit for Retailers
- The 27 best Black Friday campaigns of all time
- How to Prepare for Black Friday: A Retailer’s Guide
- 10 Creative Black Friday Strategies for Retailers
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Build a data-driven Black Friday strategy for 2023
The statistics showcased here highlight the importance of a Black Friday strategy, necessary to drive traffic to your website. Before launching your plan, make sure that your website is optimized for mobile users and up to the task of handling increased traffic. Once your eCommerce website is up and running, deploy an omnichannel marketing strategy to reach Black Friday and Cyber Monday shoppers through their preferred contact channels.
A data-driven approach lets you take action that is more likely to convert customers. You can use analytics from previous marketing campaigns to determine which ads to run on each platform. Look to existing Black Friday campaigns for inspiration on how to engage and excite your customers. Use your data to develop a strategy for running campaigns that reach your target customers in their preferred channels and make them more likely to buy on Black Friday weekend.
A well-rounded campaign that offers a smooth customer experience can help you capture and impress Black Friday customers and improve your chances of converting them into repeat buyers. If you’re ready to jump in on the Black Friday shopping rush, but you’re overwhelmed about where to start, contact us for a consultation. ContactPigeon’s experienced team has helped over 300 brands in the EU develop omnichannel customer engagement strategies that will help you better convert customers. Book a free 30-minute consultation call to start creating your data-driven Black Friday strategy now.
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