3 min
Black Friday Shoppers Seek Deals on Electronics, Early Sales and Convenience in a Competitive Market
This year’s Black Friday shopping will bring a fresh wave of trends for both consumers and retailers. With electronics, online convenience and competitive pricing at the forefront, the landscape of Black Friday is evolving to match the shifting shopping habits of today’s consumers, said Baylor University consumer behavior expert James A. Roberts, Ph.D. Roberts – who serves as The Ben H. Williams Professor of Marketing at Baylor’s Hankamer School of Business – keeps a close watch on Black Friday, including what he sees as the Top 5 trends for holiday shopping in 2024. Top Trends for Black Friday 2024 The Shift in Shopping Habits: The balance between online and in-store sales remains steady, with consumers enjoying a 50/50 split in shopping preference, Robert said. While COVID-19 accelerated a surge in online shopping, this year, both are expected to perform equally as shoppers appreciate the flexibility of both options. Holiday Deals Start Early: As the competitive landscape has grown, Black Friday sales now launch weeks in advance. This early kickoff benefits consumers who are eager to lock in discounts and spreads out the typical holiday rush, providing retailers a longer window to capture consumer interest, Roberts noted. Electronics Dominate Sales: As in previous years, electronics will be the driving force of Black Friday 2024, accounting for nearly half of all sales. Roberts said that shoppers are especially focused on deals for televisions, laptops, smartwatches and gaming consoles – underscoring the lasting demand for high-quality technology at competitive prices. Gen Z and Millennials Drive Online Growth: Digital natives like Gen Z and Millennials continue to shape holiday shopping habits. Roberts said their comfort with online shopping – coupled with their mobile-first approach – makes them a powerful force in the online retail space. Retailers can expect these younger consumers to leverage social media, mobile apps and seamless e-commerce platforms for their holiday purchases. Rising Categories: Beyond electronics, Roberts predicts that other sectors will see strong sales this season, particularly in clothing, cosmetics and home appliances. As consumer preferences expand, brands in these categories should prepare for increased demand. Factors shaping consumer choices For Black Friday in 2024, competitive pricing and convenience remain top priorities, Roberts said. “Retailers who offer the best deals alongside quick and reliable delivery options stand out among consumers,” he said. Additionally, low-cost brands – such as Shein – have set consumer expectations for affordable pricing, even as “Buy Now, Pay Later” options have increased in popularity – though Roberts said retailers and consumers alike should be cautious when using this financing option at the risk of overspending. Future of Black Friday Looking ahead, Roberts said Black Friday’s trajectory appears geared more towards online channels, with each year seeing a slight shift away from brick-and-mortar shopping. Retailers are encouraged to keep an eye on pricing expectations and financing trends, as they’ll play an increasingly influential role in the holiday season. ABOUT JAMES A. ROBERTS, PH.D. James A. Roberts, Ph.D., is The Ben H. Williams Professor of Marketing at Baylor University’s Hankamer School of Business. A noted consumer behavior expert, he is among the "World's Top 2%" most-cited scientists in a database compiled by Stanford University. In addition to journal citations, Roberts has often been called upon by national media outlets for his consumer expertise and latest research. He has appeared on the CBS Early Show, ABC World News Tonight, ABC Good Morning America, NBC’s TODAY Show and NPR’s Morning Edition, as well as in articles in The New York Times, USA TODAY, The Wall Street Journal, TIME and many others. Roberts’ research has focused on how individual consumer attitudes and behavior impact personal and collective well-being. His research has investigated the factors that drive ecologically and socially conscious consumer behavior, the impact of materialism and compulsive buying on well-being and the impact of smartphone and social media use on personal well-being. He is the author of “Shiny Objects: Why We Spend Money We Don’t Have in Search of Happiness We Can’t Buy” and “Too Much of a Good Thing: Are You Addicted to Your Smartphone?”
