November 26, 2024
The Boston Globe recently published an article featuring Jay Zagorsky, Clinical Associate Professor of Markets, Public Policy, and Law, discussing how Black Friday, once known for chaotic in-store crowds and midnight sales, is evolving as shopping habits shift to online platforms.
Sales now begin before Thanksgiving, prompting some to call November “Black Friday month.” While Cyber Monday has lessened Black Friday’s prominence, the event’s social appeal continues to make it relevant, even as the focus shifts away from deep discounts on big-ticket items like TVs. Although brick-and-mortar stores still draw many shoppers, online sales now represent a larger share of retail revenue, with e-commerce accounting for 17.1% of total sales during the last holiday season.
“There is less need to stand in line at midnight when the items typically associated with doorbuster sales are now much cheaper,” Zagorsky adds.
Retailers are continuing to adapt to changing consumer behavior, making Black Friday less about doorbusters and more about an extended shopping period that spans several weeks.
