Black Friday 2024 To Make Comeback in Sales, Analysts Predict

Black Friday isn’t casting any black clouds over sales this year. In fact, skies are looking clear… and lucrative!

Per a new report from website-building provider Hostinger, which polled 1,000 American prospective Black Friday and Cyber Monday shoppers, 31% of Americans said they plan to spend more this year than in 2023, with men particularly inclined to increase their Black Friday budgets. What people may not have predicted is Gen Z’s frugality. While enthusiasm isn’t dimmed reflected in their proclivity to impulse buy, their mindful of their spending. Per the report, Zoomers’ are laying off the gas when it comes to spending than older generations with many planning to keep purchases within the $100-$299 range.

What’s more, the report also found that 30% of consumers plan to shop exclusively online this year. This finding underscores the need for retailers to create seamless e-commerce experiences. Mobile shopping has also grown, with 46% preferring mobile devices, especially among younger shoppers. However, that doesn’t sway the 44.85% of Americans who continue their preference for laptop add to cart.

From Research to Purchase

“This Black Friday, retailers must navigate the evolving consumer landscape characterized by speed, convenience and complex shopping journeys,” said Justina Nemaniutė, lead of sales at Hostinger. “By leveraging technology and data-driven insights, businesses can tailor their offerings to meet shoppers’ needs at every stage of their decision-making process, from research to purchase.”

Speaking of, price is the top consideration for 62% of shoppers, analysts say with retailers offering deep discounts standing to attract the most eyes. Email remains the most influential marketing channel, with 59.2% of respondents stating it impacts their buying decisions.

Unsurprisingly, the study also reveals that women are the most impulsive gender in unplanned shopping and Gen Z is the most impulsive generation.

Sustainability, Speed, Convenience Drive Purchasing Decisions

Hostinger also found that Gen Z stands out for its environmental awareness, with 64.4% of respondents indicating that sustainability is an important factor in purchasing decisions. This drops to 44.7% for Millennials, 35.7% for Gen X and 29.0% for Baby Boomers.

This year’s Black Friday promises dynamic shifts as Gen Z demands speed, Millennials focus on quality and Baby Boomers prioritize convenience. Analysts encourage businesses to refine their Black Friday strategies and capture a larger share of the market.