The biggest shopping day of the year and the day that really starts off the holiday season is definitely Black Friday. This year it’s on November 24, the day after Thanksgiving.
The statistic that really demonstrates the significance Black Friday has for retailers is that 30% of all annual retail sales occur between Black Friday and Christmas. For certain retailers, such as jewelers, that percentage is even higher, around 40%.
Black Friday remains the biggest shopping day for stores. Around 101.7 million people hit the stores in 2016. That’s noticeably more than the 74 million from 2015. Saturday was the next biggest day with 64 million shoppers. 33 million shopped on Sunday and on Thanksgiving, only 29 million.
The Black Friday weekend saw 137 million people visited the stores. That’s around 30% more than the 102 million in 2015.
According to National Retail Federation, November and December are considered holiday shopping season and Black Friday is a big part of that. Black Friday sales show a steady rise of around 2.5% a year. In 2002 the sales were $416 billion and in 2016, $935 billion. NRF predicts they will be around $967 billion in 2017.
Another benefit Black Friday has on economy is seasonal employment. The record year was 2013 when 764,750 workers were employed and it’s estimated that around $500,000 to a $550,000 seasonal works will be hired in 2017.
Getting the best Black Friday Sales and Deals
If you want to find the best Black Friday days, you can use this unexpected trick, look for deals in the days prior to Black Friday. In the competition to make the most sales, retailers are offering deals earlier each year, even upstaging Black Friday.
According to research, best electronic deal are available early in November. If you’re looking for Christmas decor, try November 22, it has up to 25% discounts. If you want to make your children happy with some new toys, the day before Thanksgiving has the best prices.
The week before Thanksgiving has excellent in store discounts, going from 20% average. That raises to 37% during the Thanksgiving Day, Black Friday and Saturday.
If you’re looking for online deals Thanksgiving Day offers some really good ones on electronics, sports equipment and video games with discounts of around 24%.
However, if you’re looking for TV’s, appliances or jewelry, Black Friday still has the best online discounts.
Useful tips for shopping on Black Friday
- Start early and make sure you check the online prices, many of them match even the door busters.
- Use mobile apps for retailers like Amazon, Walmart, Target or Best Buy to get early notifications on best deals
- Try haggling, some managers are allowed to offer a 10% discount in order to match the competition.
- Make sure you check out Cyber Monday, if you miss the deals you wanted on Friday, you can still get lucky or even do better on Monday, as online prices come down significantly.