{"id":7536,"date":"2024-11-08T13:22:55","date_gmt":"2024-11-08T13:22:55","guid":{"rendered":"https:\/\/finderica.com\/when-is-black-friday-heres-what-you-need-to-know-before-you-shop\/"},"modified":"2024-11-08T13:22:55","modified_gmt":"2024-11-08T13:22:55","slug":"when-is-black-friday-heres-what-you-need-to-know-before-you-shop","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=7536","title":{"rendered":"When is Black Friday? Here\u2019s What You Need to Know Before You Shop"},"content":{"rendered":"
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When is Black Friday 2024? <\/span><\/h2>\n
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Black Friday is the day after Thanksgiving \u2014 this year, Nov. 29 \u2014 and it has typically been the kickstart to the holiday shopping season. Hundreds of retailers launch special in-store and online sales that are meant to encourage shoppers to check items off their list. <\/span><\/p>\n<\/div>\n

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Black Friday is a time when businesses are able to move from \u201cthe red\u201d (operating at a loss) to \u201cthe black\u201d (making a profit). While Black Friday has a rich history, this narrative began in the 1980s and has stuck with the holiday ever since. <\/span><\/p>\n<\/div>\n

Predicting Black Friday trends <\/span><\/h2>\n
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You can count on Black Friday sales to deliver intense competition and widespread discounts that stand out from other times of the year. Here’s what else to expect this shopping season. <\/span><\/p>\n<\/div>\n

Record-high holiday spending<\/span><\/h3>\n
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The National Retail Federation estimates that winter holiday spending during November and December could reach $989 billion, a record high and up from $955.6 billion in 2023. <\/span><\/p>\n<\/div>\n

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Shoppers will spend an average of $902 on \u201ccore holiday spending,\u201d with $641 going toward gifts and $261 for seasonal items, the federation said on an Oct. 30 media call. <\/span><\/p>\n<\/div>\n

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But that doesn\u2019t mean shoppers are necessarily buying more, says Mark Bergen, professor of marketing at the University of Minnesota. <\/span><\/p>\n<\/div>\n

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Because of inflation, \u201cyou could be spending more even though you\u2019re buying less,\u201d Bergen says. <\/span><\/p>\n<\/div>\n

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Becoming a \u201cbetter shopper\u201d this holiday season \u201cdoesn\u2019t necessarily mean I spend less,\u201d Bergen says. \u201cIt means I spend more wisely or spend differently.\u201d <\/span><\/p>\n<\/div>\n

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Some shoppers will probably account for rising costs in their budget by spending money on different items \u2014 maybe a store brand rather than a name brand or shopping at a discount store instead of a major retailer, says Bergen.<\/span><\/p>\n<\/div>\n

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Before you build a budget<\/span><\/p>\n

SS breaks down your spending and shows you ways to save.<\/span><\/p>\n<\/div>\n

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Special access for members <\/span><\/h3>\n
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\u201cA big shift this holiday season will be that many of the really big promotions are going to be member driven,\u201d Bergen says. Store memberships \u2014 which range from the free Target Circle program to paid programs such as Walmart+, warehouse memberships and Amazon Prime \u2014 can unlock special deals, early access and other benefits this holiday season. <\/span><\/p>\n<\/div>\n

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Why this special privilege for members when Black Friday deals used to be for everyone? <\/span><\/p>\n<\/div>\n

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\u201cBecause of inflation, companies have become more sophisticated in their ability to raise prices,\u201d Bergen says. \u201cPart of that has been their realization that they can raise the average prices but give more targeted discounts to their members.\u201d <\/span><\/p>\n<\/div>\n

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The bottom line: Taking account of your memberships might make a difference for your budget this holiday season. <\/span><\/p>\n<\/div>\n

A rise in social media-inspired shopping <\/span><\/h3>\n
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While retail heavy-hitters will be a go-to for many shoppers, social media platforms will also be popular places to shop, especially for younger generations. <\/span><\/p>\n<\/div>\n

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\u201cFacebook Marketplace and TikTok Shop are leading in intentional purchases, while Facebook and Instagram remain popular for more casual browsing,\u201d Janelle Sallenave, Chime\u2019s chief spending officer, said in an email interview. Her observations come from data from Chime\u2019s 2024 \u201cSpendfluence report.” <\/span><\/p>\n<\/div>\n

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\u201cEach platform appeals differently to its users: Facebook Marketplace attracts those searching for specific items, like furniture, while TikTok Shop engages trend-seekers,\u201d Sallenave said. <\/span><\/p>\n<\/div>\n

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But not all purchases are planned. <\/span><\/p>\n<\/div>\n

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\u201cOne of the biggest takeaways from our Spendluence report is that \u2018just browsing\u2019 leads to a purchase for 99% of Americans with consumers spending an average of $168 on social media shopping in the past six months alone,\u201d Sallenave said. <\/span><\/p>\n<\/div>\n

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\u201cThis is a good reminder for holiday shoppers to be cautious and intentional with their spending, as platforms and brands will likely ramp up their ads and promotions.\u201d<\/span><\/p>\n<\/div>\n

Store policies that benefit shoppers <\/span><\/h3>\n
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Retailers really cater to shoppers during the holiday season. Here\u2019s what you can expect this year: <\/span><\/p>\n<\/div>\n

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