Are you ready for the holidays? Yes, it’s that time of year again as Black Friday has become a big shopping extravaganza for consumers. It also seems to get longer. This year, Black Friday sales started weeks earlier and the deals continued on for weeks afterward.
Spending is still leaning more towards online shopping increase. In-store sales saw only a small uptick in visitors and shopping. Online shopping doubled from 2017 (when sales were just over $5 billion).
What did people buy? Well, consumers bought a lot of toys, jewelry, appliances, clothing, and appliances. Some of the most popular toys were Harry Potter LEGO sets, lots of “Wicked” toys and game, Disney Princess toys, and gaming consoles were also big winners.
Some shopping highlights:
- Total number of shoppers grew by 17 million from 2021 to more than 196.7 million consumers over the Thanksgiving holiday weekend.
- On Thanksgiving day, consumers spent a record $6.1 billion online, up 9% from last year.
- Black Friday spending online was $10.8 billion.
- This amount is up 15% compared to in-stores sales.
- In-store sales increased less than 1% though.
- More than half of all online sales on Black Friday were placed on mobile screens.
- Cyber Monday shopping was more than $13 billion, up 6% from last year.
- Average consumer spending was $325.44 on holiday-related purchases.
No matter what is happening with the economy, people still like to shop and give gifts. Consumers also like to indulge themselves with an increase in self-care product categories.
What did you buy?
Group Activities and Discussion Questions:
- Discuss spending over the Thanksgiving weekend. Show video: https://youtu.be/m7jY0yAq2RY?si=boh64UoWVMMJjJ7o
- View National Retail Federation statistics and charts: https://nrf.com/media-center/press-releases/record-1967-million-consumers-shop-over-thanksgiving-holiday-weekend
- Poll students about their shopping over Thanksgiving Week – Cyber Monday.
- Where did they spend? How much?
- Divide students into teams.
- In teams, have students tally how much they spent, which products were sought after, etc. See which teams are the biggest spenders.
- Have each team design a holiday sales promotion for a company of their choosing.
Source: Hadero, H., and Grantham-Philips, W. (2 December 2024). Cyber Monday shoppers expected to set a record on the year’s biggest day for online shopping. Associated Press; Moore, J. (30 November 2024). Black Friday shoppers spent a record $10.8 billion online: What did people buy? ABC News; other news sources.
