Black Friday 2024: E-Commerce Completely Claims Victory

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Usually, the 5-day period between Thanksgiving and Cyber Monday (Cyber Week) is the busiest shopping days of the year. The special shopping day — Black Friday, is not just a day on the calendar but also a crucial moment that kicks off the holiday shopping frenzy, when retailers and consumers alike eagerly await the attractive deals it brings.

FYI: Origin of Black Friday:

This is the day created by American retailers in the past, in the hope of making a profit (in the black) on Thanksgiving when everyone gets off.

(Thanksgiving is the 4th Thursday of November, Black Friday is the Friday right after.)

A bit more needs to be said about “in the black” and “in the red”, 2 financial terms:

• In the black: Profitable

• In the red: Loss-making

Therefore, retailers wanted to be “black” on “friday” right after “Thanksgiving”. Seeing such a holiday, savvy businessmen naturally thought of ways to attract consumers: Massive discounts.

In the US, scenes of people lining up hundreds of meters long in front of TV and video game stores, even camping out, to wait for their turn to buy bargain deals, happened everywhere. When stores opened, chaos ensued with pushing, shoving, accidents, even deaths → a “dark day” for society.

This year, this holiday attracted 197 million shoppers — the 2nd highest in survey history after last year's record of 200.4 million and exceeding initial expectations of 183.4 million.

Black Friday remains the most popular day for both in-store and online shopping:

• 81.7 million consumers shopped in stores on Black Friday, up from 76.2 million last year and the highest since the pandemic.

This holiday season shows that digital platforms are distinctly transforming the shopping industry:

• According to Adobe Analytics, US consumers spent nearly 11 billion USD online on Black Friday, +10% Y/Y. Cyber Monday is expected to rise 6% to 13 billion USD.

• Mobile devices played a key role, accounting for the majority of transactions. Meanwhile, physical store traffic fell 3% Y/Y

This week's Viet Hustler article will dive deeper into the trends and strategies shaping this shift:

1. Black Friday 2024 Statistics: Consumer Shopping Statistics

2. Industry Shift Trends:

   • E-commerce: Dominating Traditional Shopping Market Share

   • AI: The Silent Game-Changer Tool

3. E-commerce Industry Competitive Landscape