Despite Black Friday 2023 sales being earlier than usual this year, A record 200.4 million consumers shopped over the five-day holiday weekend from Thanksgiving Day through Cyber Monday.
This week, we explore what happened this past weekend and take a look at how Gen-Z is bringing new life to the Black Friday festivities.
Today’s Rundown
Social success: Black Friday retail sales up 2.5% year-over-year.
Retail Subscriptions: Why consumers with retail subscriptions shop less often at physical stores.
OUT NOW – Q2 2023 Benchmark Report: Click HERE to see how your store compares to the industry average.
Record Breaking Thanksgiving Holiday Weekend
This year, shoppers came out in full force to make the most of the weekends deals. A record 200.4 million consumers shopped over the five-day holiday weekend from Thanksgiving Day through Cyber Monday, surpassing last year’s record of 196.7 million.
A recent report by NRF found that 121.4 million people visited physical retail locations, and online shoppers totaled 134.2 million. Compared to last year, 122.7 million people shopped at physical locations, and 130.2 million shopped online over the same weekend.
Surprisingly, Since 2019, Black Friday has become the most popular online shopping day. Roughly 90.6 million consumers shopped online on Black Friday, while approximately 73 million consumers shopped online on Cyber Monday.
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Walking The Extended Holiday Runway
With Thanksgiving being earlier this year, shopping trends saw a shift in the usual holiday behaviors.
Each year it becomes more and more confusing to find when the actual “Black Friday Deals” will arrive. With Brands opting for their own unique Black Friday deal days and online promotions, door-buster deals are slowly becoming a thing of the past.
Yet, there’s one demographic that breaks the mold: Gen Z. Born and raised in a virtual world, they’ve turned Black Friday into a unique event, showing up early with friends, coffee in hand, ready to embrace the in-person shopping experience that resonates with their desire for real-world connections.
Retail Snippets
Retail Subscriptions: Why consumers with retail subscriptions shop less often at physical stores.
Tech Frustration: Supermarkets are beginning to ditch self-checkouts.
Mastercard Spending Pulse: Black Friday retail sales up 2.5% year-over-year.
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