Black Friday, the day after Thanksgiving, has long marked the beginning of the holiday shopping season. This year retailers are offering deep discounts to draw customers both in stores and online. However, forecasts are mixed on just how strong Black Friday sales will actually be in 2023.
Black Friday No Longer a One-Day Event
In years past, bargain hunters would line up outside stores late Thanksgiving night to be the first inside when doors opened early Friday morning. But major retailers like Walmart, Target and Kohls have been offering Black Friday deals since early November both online and in stores . Amazon’s Black Friday Deals Week started on November 18th .
This "Black Friday month" makes tracking consumer spending more complex. While overall holiday sales are expected to grow up to 8% according to Deloitte and the National Retail Federation, the fraction that occurs specifically on Black Friday is harder to predict ,.
|Projected 2023 Holiday Sales Increases
|Deloitte: 4.5% to 6.5%
|NRF: 6% to 8%
With 6 million more people working now compared to 2019, rising wages, and healthy savings rates – consumers are expected to spend freely this holiday season .
Competing With Online Shopping
Another factor making predictions tricky is the steady shift to online shopping. More than half of consumers now start their holiday shopping online. Top retailers plan to offer the deepest discounts through Cyber Monday in hopes of competing with the likes of Amazon and delivery apps ,.
However, brick and mortar stores are still expected to see large crowds – albeit not as large as past Black Fridays. In-store shopping rebounded last year after the lockdowns. 62% say its part of their family’s traditions. Others see it as an annual recreational event .
Top Deals To Watch For
With prices still high on many everyday goods, consumers will be strategic in their holiday shopping – searching for bargains where they can . Electronics, apparel, appliances and toys are all hot categories this Black Friday. We break down top deals below.
TVs and Laptops
Deep discounts on big ticket items like TVs and laptops are hugely popular this year. Look for 50 inch 4K smart TVs under $200 and savings up to 40% on HP, Acer and Lenovo laptops .
Retailers have too much unsold apparel inventory this year. Look for extra markdowns on everything from outerwear and boots to underwear and pajamas. Standouts include 40% to 60% off at Old Navy and American Eagle .
To compete with Black Friday, many appliance makers timed new product launches ahead of the holidays this year. That means even deeper than usual discounts on previous models of major appliances like washing machines, dryers, dishwashers and refrigerators .
|50" 4K Smart TVs under $200
|Up to 40% off HP, Acer, Lenovo
|40-60% off at Old Navy, American Eagle
|Extra discounts on major appliances
Are These The Best Deals Of The Year?
The week encompassing Black Friday and Cyber Monday still sees the year’s deepest discounts – but savvy shoppers know you can often find better deals at other times. While doorbusters aim to draw you into stores, some items are actually cheaper at other points in the year .
July features deep discounts on apparel as retailers clear inventory for back-to-school shopping. January sees deals on TVs and electronics following the holidays. And next year’s models of major appliances debut each spring – meaning you can scoop up the previous year’s high-end models for less .
No matter when you choose to shop, make sure to research prices in advance and don’t assume that % off tags represent the best yearly pricing .
Scams And Data Breaches Loom
Along with deals come increased risks of scams and fraud this time of year. Look out for fake websites pretending to have special deals and texts directing you to claim gift cards. Only shop trusted online stores. Check your credit card statements regularly for any suspicious transactions – nearly 40 percent of holiday shoppers last year reported issues .
In the rush to capture sales, some retailers also let cybersecurity lapse – leading to exposed customer data. Change passwords on retail sites after making any purchases. And avoid using debit cards which don’t have the same fraud protections as credit cards ,,.
No shopping holiday would be complete without both great deals along with warnings to shop carefully. This Black Friday promises more of both to the benefit of savvy shoppers.
To err is human, but AI does it too. Whilst factual data is used in the production of these articles, the content is written entirely by AI. Double check any facts you intend to rely on with another source.