63 Black Friday Statistics & Trends For 2024 [Latest Report]

Black Friday, the biggest shopping event of the year, has become a global phenomenon with huge discounts and deals. 

In 2023, the Black Friday event saw a significant surge in online sales, generating over $9.8 billion in revenue.

The Black Friday 2024 sales are predicted to exceed $222.1 billion in revenue.

This article provides key highlights on the Black Friday trends and behaviors of online shoppers during this period. We will also see Black Friday 2024 forecast insights and predictions.

Let’s quickly get into the details.

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Black Friday Sales Revenue of 2023

Black Friday online sales generated over $9.8 billion in revenue as of 2023.   

1. Consumers spent an average of $390 on holiday-related purchases during the Black Friday week.
2. Cyber Monday sales increased by 9.6% to $12.4 billion in 2023. 

Here is a breakdown of revenue generated during Cyber Monday and Black Friday in 2023.

Black Friday	$9.8 billion
Cyber Monday	$12.4 billion
Thanksgiving	$5.6 billion
Small Business Saturday	$4.8 billion

Black Friday Sales By Year

Black Friday spending rose by 2.5% year-over-year, not accounting for automotive and inflation. 

This increase is below the inflation rate and marks a notable deceleration from last year’s 12% rise in 2022 over 2021.

3. U.S. online sales on Black Friday surged to $9.8 billion, up 7.5% from last year.

Here is a total black Friday sales over the years:

Year	Sales Generated
2023	$9.8 billion
2022	$9.12 billion
2021	$8.92 billion
2020	$9.03 billion
2019	$7.4 billion
2018	$6.2 billion
2017	$5 billion

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Black Friday Sales Volume

U.S. retail sales during the 2023 Holiday Season grew by 3.8% YoY, reaching a record high of $964.4 billion.

4. Black Friday sales saw significant growth in 2023, with global figures rising by 8% year-over-year (YoY) to reach $70.9 billion. 
5. In the United States, online sales increased by 9% YoY, totaling $16.4 billion.
6. In terms of overall retail performance, total U.S. retail sales on Black Friday grew by 5% YoY. However, in-store shopping saw a modest increase of only 1.1%, which is significantly lower than the 8.5% growth recorded for e-commerce, as noted by Mastercard.
7. Looking at the broader Cyber Week period, global sales increased by 6% YoY, culminating in a total of $298 billion in 2023. This reflects a strong demand for online shopping, driven by attractive discounts and promotions across various categories.
8. Total U.S. retail sales on Black Friday experienced a 5% increase year-over-year (YoY). Online retail sales throughout the entire Holiday Season grew by 6.3% YoY, while in-store sales saw a modest increase of 2.2%.
9. Adobe Analytics reported a 4.9% rise in U.S. online sales for the full Holiday Season, totaling a record $222.1 billion.
10. In November alone, consumers spent $123.5 billion online, reflecting a 6% YoY increase.
11. Cyber Week contributed significantly, driving $38 billion in online spending in the U.S., which is up 7.8% YoY.

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Black Friday Consumer Behavior

As per Adobe Analytics, Black Friday saw a massive boost in online shopping, even more so than Cyber Monday. 

12. On Black Friday, 90.6 million people shopped online.
13. A total of 76.2 million individuals shopped in-store during Black Friday.

Let’s take a look at how most consumers preferred to buy during the Black Friday weekend. 

Sale	In-store Purchase	Online Purchase
Thanksgiving	22.5 million	35. 1 million
Black Friday	76.2 million	90.6 million
Saturday	59 million	58.3 million
Sunday	28 million	36.9 million
Cyber Monday	20.9 million	73.1 million

14. 70% of the spending during Black Friday weekend was on gifts. 
15. Clothing and accessories are the most popular category, purchased by 50% of those surveyed.

Here are the most popular categories purchased during the Black Friday sale.

Category	% of Buyers
Clothing and apparel	66%
Toys	31%
Gift cards	27%
Books/video games/other media	24%
Food and candy	23%
Electronics	23%

16. In 2022, the conversion rate for desktops was recorded at 5.6%, compared to 3.3% for mobile devices.

Below is the distribution of items purchased per checkout on different devices. 

Device	Number of Items Bought Per Checkout
Desktops	3.61 items
Smartphones	2.93 items
Tablets	2.83 items

17.  49.4% of online shoppers used credit cards to pay for Black Friday purchases.
18. The use of Apple Pay by Black Friday online shoppers reached 13%, up 8% from the previous year.

Here is data on popular payment methods that online buyers used on Black Friday sales. 

Payment Method	Percentage of Online Shoppers
Credit card	49.4%
Debit card	47.7%
PayPal	26.7%
Gift or Prepaid Card	10.9%
Apple Pay	12.7%
Buy now, Pay later	10.2%
Store cards	7.7%
Venmo	8.2%
Google Pay	10%
Cryptocurrency	5.1%
Others	0.8%

19. 88% of shoppers compare discounts before buying on Black Friday.
20. Google was the go-to option for 36% of people seeking the best deals on Black Friday.

Here is the distribution of where most buyers search for the Black Friday offers. 

Platform	Percentage of Shoppers
Google	36%
Social media	25%
Company website	19%
Other	21%

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Demographic of Black Friday Statistics

A significant trend is the growing dominance of online shopping for Black Friday deals. This shift in behaviour impacts the demographics involved.

Here’s a closer look at the demographics that participated in Black Friday sales in 2023. 

Age and Gender Breakdown

Gen Z leads in Black Friday shopping.

21. According to the Finder survey, 68% of Generation Z planned to shop the Black Friday sales.
22. Gen Zers spent at least $357 per person, with baby boomers following at approximately $364 per person.
23. 91% of Millennials, Gen Y, and Gen Z planned to do their Black Friday shopping online rather than in-store.
24. Over 132 million American adults participated in Black Friday shopping.
25. Men are more likely to participate in Black Friday shopping, with 77% eagerly anticipating the sales, while 71% of women are excited to shop.
26. Adults aged between 35 to 44 years make up the largest consumer group during Black Friday.
27. Following closely are the 18 to 24-year-olds, who represent 32.6% of Black Friday shoppers.

Here are insights into the Black Friday shoppers across various age demographics.

Black Friday Buyers Age Group	% of Buyers
18-24	32.6%
25-34	24.2%
35-44	33.6%
45-54	29.2%
55-64	24.6%
65+	24.4%

Geographic Distribution

Black Friday, traditionally the busiest shopping day in the US, has transcended borders and become a global phenomenon. 

28. BFCM was most popular in Northeastern states like New York, Pennsylvania, and Massachusetts, where 59% of people planned to shop on BFCM.
29. Canada closely follows the US trend. 40% of the buyers shopped during Black Friday in Canada. 
30. The country with the highest shopping rate on Black Friday compared to regular days is the United States, with a 663% increase. In contrast, the country with the lowest shopping rate is Thailand, with a 74% increase.
31. Spanish consumers spent an average of 273 euros on Black Friday in 2023.

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Popular Products and Categories

Electronics was the most popular product category people brought during the Black Friday sale. 

This category consistently ranks high on Black Friday, with people looking for deals on items like TVs, and smartphones (especially the latest iPhone release).

32. Toys and electronics were the best-selling items during the 2023 Black Friday sale.
33. Jewellery and apparel were at the top of the gift lists.

Here is a list of top-selling products during the Black Friday week in 2023:

• KidKraft Playsets
• Mini Brands
• TVs
• Smartwatches
• Headphones

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Black Friday Discounts 

In 2023, the average Black Friday discount was around 31%.

34. The majority of the stores offered up to 70% to 80% discount on their products.

Let’s take a look at average Black Friday discounts offered over time. 

Year	Average Black Friday Discounts
2023	31%
2022	27%
2021	26%
2020	34%

35. Adobe Analytics reported that electronic discounts on Cyber Monday reached up to 25% off the listed price.
36. Almost 88% of shoppers compare discounts before making a purchase during Black Friday sales.
37. Black Friday Statistics reveal that 62% of Americans believe the discounts during this season are merely scams.

Most of the buyers felt online sales offered them the best deals than the in-store offers. 

Here is a breakdown of discounts offered during the Black Friday weekend. 

Black Friday Weekend	Electronics	Toys	Apparel	Average
Thursday (23 Nov 2023)	26.7%	28.2%	22.7%	25.87%
Black Friday (24 Nov 2023)	26.9%	28%	24.2%	26.37%
Saturday (25 Nov 2023)	27.1%	27.4%	23.7%	26.07%
Sunday (26 Nov 2023)	27.5%	26.1%	22.4%	25.33%
Cyber Monday (27 Nov 2023)	31.4%	27.1%	23.4%	27.3%

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Black Friday eCommerce Stats And Trends

Despite the turbulent economy, Black Friday 2023 saw a substantial increase in eCommerce spending. 

Here are the key statistics that highlight the trends and behaviours of online shoppers during this period:

38. E-commerce sales experienced a YOY increase of +8.5%.
39. Shopify sellers broke Black Friday records with $9.3 billion in sales.
40. Black Friday itself (November 24th, 2023) witnessed an estimated 109 million online orders placed in the US, with the average order value (AOV) showing a 3.2% increase.
41. Shopify vendors attracted over 61 million buyers in 2023. This is up by over 9 million from the previous year with 52 million.
42. E-commerce sales reached approximately $281 billion during Cyber Monday sales Week.
43. Shopify sellers reached a peak of $4.2 million in sales per minute on Black Friday.
44. Independent retailers partnering with Amazon saw total sales of $1 billion across all four shopping days during the Black Friday season.
45. Retail businesses that operate both online and in-store experienced a 64.5% increase in transactions.
46. Walmart surpassed Amazon in the competition for online searches seeking Black Friday discounts.
47. Walmart experienced a 386% surge in Black Friday discount searches compared to last year. 
48. Amazon slipped to the fourth position, trailing behind Target and Kohl’s.
49. Online shopping carts were 3.9 times larger than in-store shopping carts.

Extra Read: For Amazon Prime Day 2024, U.S. sales reached more than $14.2 billion. For more insights, check out the Amazon Seller Statistics 2024.

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Consumer Engagement

In the United States, only about 30% of people felt Black Friday sales offered good value.

50. According to the 2023 survey, 24% of consumers felt that retailers increased prices leading up to Black Friday and then offered discounts on the day.
51. 14% of the buyers said the products are not discounted as much as they are interested in.

Here are insights on consumer engagement who think Black Friday sales are good value in the United States. 

Characteristics	% of consumers
Yes, but it’s not always worth the hassle of shopping on the day	34%
Yes, it is of good value	28%
No, I think retailers inflate prices and then discount them	24%
No, the products I’m interested in aren’t discounted much or at all	14%

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Black Friday Trends For 2024

52. Walmart and Target were the most preferred destinations for in-person shopping on Black Friday.

Here’s the breakdown of in-person market share during the Black Friday:

Store	% of In-Person Buyers
Target	67%
Walmart	66%
Kohl’s	41%
Shopping mall or center	38%
Macy’s	37%
Best Buy	36%
Old Navy	29%
Marshalls	25%
Costco	24%
Home Depot	24%

53. The number of searches during the Black Friday sale reached 11,680,513.
54. 10 out of 40 people started shopping in person on Friday (Black Friday) between 5 AM and 10 AM.
55. 31% of shoppers started their Black Friday shopping a day before, i.e., Thursday.
56. Black Friday messages promoting a “$ off” offer generated a 10.4% open rate and a 14.8% conversion rate.
57. The majority of people (52%) skipped the Black Friday sale due to huge crowds. 

Here are the reasons for not participating in the Black Friday sale 2023. 

Reason	% of People Not Attending Black Friday
Disliking Crowds	52%
Lack of interest in buying anything	22%
Budget constraints	16%
General dislike of shopping	16%
Safety concerns	12%

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Black Friday Sale 2024 Forecast

58. Black Friday 2024 is scheduled for Friday, November 29.
59. Early sales and promotions are expected to start as early as October, with Amazon’s 2nd Prime Day sale acting as a kick-off to the holiday shopping season.
60. Black Friday 2024 will see a significant increase in sales, with over $222.1 billion spent, a 4.9% increase compared to 2023.
61. The average industry-wide discount for Black Friday 2024 is expected to be around 25-30% off.
62. Tech products, particularly electronics, are expected to see significant discounts, with some items reaching record-low prices.
63. Online shopping will remain the dominant force, with retailers using online exclusives, flash sales, and early access deals to attract customers

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Online VS In-Store Sales Over Time

Over the years, Black Friday sales trends have undergone a dramatic transformation, shifting from primarily in-store purchases to focus on online shopping. 

Initially, physical stores were bustling with shoppers during the Black Friday season, drawn in by enticing deals and discounts. However, the rise of e-commerce has reshaped the landscape entirely.

In the early 2000s, in-store purchases were predominant, with brick-and-mortar locations accounting for nearly 90% of Black Friday sales.

The convenience, greater selection, and ability to compare prices online increasingly lured customers away from traditional retail outlets. This shift was accelerated by advancements in mobile shopping apps and internet connectivity.

From the late 2010s to the early 2020s, in-store sales saw a decline but still represented about 70% of total Black Friday sales.

In recent years, mobile devices have made a significant impact, contributing approximately 25.3% of online sales on Black Friday.

Mobile commerce has played a crucial role in reshaping consumer spending habits during this shopping event. 

While many traditional shoppers still appreciate the immediate gratification and tangible experiences offered by physical stores, online Black Friday sales have surged, reflecting a broader trend toward digital commerce and evolving customer preferences for convenience and accessibility.

By the mid to late 2020s, brick-and-mortar stores adapted to these changing trends, comprising around 50% of total Black Friday sales, while online sales surpassed 50%.

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Final Thoughts On Black Friday Statistics

As we see, the Black Friday 2023 sale has almost crossed $9.8 billion with an average discount of over 31% on products and services. 

Now, the Black Friday Sale 2024 is on its way and coming with huge discounts on almost every brand, it will be exciting to see how the sales will boost this year.

 With more consumers opting for online purchases, we can expect to see even more significant shifts this year. 

What are your thoughts on these numbers? How will be Black Friday 2024 sale perform? Will the sales revenue increase or will it have a downturn? 

Let us know in the comments section below!

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FAQs

Sources:

Below are the sources for the data we have collected for Black Friday statistics: