Black Friday Sale Market Outlook from 2024 to 2034

The Black Friday sale, which originated in Western countries like the United States and Canada, has also spread to other parts of the world. The Black Friday sale market is estimated to be around USD 278,645 million in 2024. With increased exposure due to social media, the industry is set to follow an upward trend in the coming future. By the end of 2034, this valuation is very likely to surpass USD 1,158,302.7 million, exhibiting a CAGR of 15.3%.

Even after its origin in the 1950s, Black Friday is still considered one of the biggest shopping days of the year for retailers and consumers across the globe. According to a report, billions of dollars are spent on these days, especially in developed economies. Brands and retailers also actively take part in the sale as they see it as an opportunity to boost sales and clear out old inventory before the end of the year.

The rise of eCommerce in developing and underdeveloped economies has also contributed positively to the industry. It is observed that, in the last few decades, consumers have shifted toward online shopping as they find supermarket runs cumbersome. This is also the main reason why brands and retailers have put up their product offerings on online platforms so that they can reach a wider consumer base on Black Friday sale days.

The Black Friday sale market is also gaining widespread acceptance due to brands and companies collaborating with each other to market their products effectively. Through social media, email marketing, and advertisements, brands these days are able to attract a significant number of consumers to the industry. In countries like India, Brazil, Spain, etc., where a substantial portion of the population is in its youth stage, this way of promotion has worked well for the players involved in this industry.

Attributes Description
Estimated Global Black Friday Sale Market Size (2024E) USD 278,645 million
Projected Global Black Friday Sale Market Value (2034F) USD 1,158,302.7 million
Value-based CAGR (2024 to 2034) 15.3%

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Key Industry Highlights

Extended Sales Period Benefits the Black Friday Sale Market

These days, many retailers are extending Black Friday sales beyond a single day. They offer deals and discounts throughout the entire week or even the entire month of November. This trend is also known as ‘Black November’ or ‘Cyber Month’, allowing consumers more time to shop and helping retailers spread out consumer traffic. This extended sales period has had a significant effect on the overall industry valuation in recent years.

Online Mobile Shopping Dominates the Sales Routes

The proliferation of the internet and mobile phones in every nook and corner of the world has positively impacted the industry. App notifications and exclusive offers draw consumers drastically to the industry compared to other promotional strategies. In addition to this, personalized deals and recommendations to consumers based on their browsing and purchasing history have also benefited the industry on another level.

Alternative Sales Days and Competition to Hamper the Prominence of Black Friday Sales

The increasing number of sales events throughout the year, such as Cyber Monday, Singles Day, Prime Day, and other promotional events, has lessened the excitement of Black Friday sales for the general populace. Besides this, cut-throat competition among rival brands has led to pressure on profit margins and made it difficult for retailers to stand out among the crowd.

2019 to 2023 Global Black Friday Sale Sales Outlook Compared to Demand Forecast from 2024 to 2034

The Black Friday sale market is heavily reliant on consumer confidence, disposable income, retail trends, and economic scenarios in the world. In the last few years, the industry has been through a lot of fluctuations. Before the pandemic hit the world, the industry experienced a sustained growth rate. Economic conditions all over the world were stable, and the general populace had a considerable disposable income in their hands so that they could spend more freely.

When the world was shut down due to the pandemic, the industry received a severe blow. The production capacity of several factory units was hampered which meant that the supply of products was severely disrupted. Lockdowns and social distancing measures also led to the closing down of retail stores during the sales period. It was also observed that people preferred online shopping over retail ones during this period.

Consumers in this period also emphasized essential items rather than luxury ones due to the economic crunch. The pandemic also meant inventory shortages, shipping delays, and increased costs for retailers, which hampered the Black Friday sale industry. The industry exhibited a CAGR of 12.9% from 2019 to 2023. With economies reopening post-pandemic, the industry has flourished again, and a CAGR of 15.3% is predicted for the industry over the next ten years.

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Sudip Saha

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Comparative Market Overview

Mentioned below are the growth rates of the peer-to-peer marketplace and the food and grocery retail industry, along with their ongoing trends and challenges. These industries are considered to pose stiff competition to the Black Friday sale industry.

Drawing from these analytics, it can be inferred that the peer-to-peer marketplace is likely to have a promising future in the coming years compared to the other two.

Peer-to-peer (P2P) Marketplace Assessment:

The peer-to-peer (P2P) marketplace landscape has experienced exponential growth, driven by technological advancements and changing consumer preferences. P2P marketplaces connect individuals or businesses directly, allowing them to buy, sell, or rent goods and services without the need for traditional intermediaries. This model offers several advantages, including increased efficiency, lower costs, and expanded industry reach.

Attributes Description
Related Market Peer-to-peer (P2P) Marketplace
CAGR (2024 to 2034) 18.7%
Growth Factor Shifts in consumer preferences towards shared consumption, sustainability, and personalized experiences have created demand for P2P marketplaces
Restraint Maintaining quality standards across a diverse range of goods and services offered on P2P marketplaces can be challenging.
Trend The increasing focus on niche and specialized platforms catering to specific industries or communities.

Food and Grocery Retail Industry Assessment:

As consumers prioritize nutrition and freshness in their culinary pursuits, the fresh food segment remains a vital element of the industry, sustaining its growth trajectory through a combination of quality offerings and evolving consumer preferences.

Attributes Description
Related Market Food and Grocery Retail Market
CAGR (2024 to 2034) 3.3%
Growth Factor The seamless integration of e-commerce platforms into the food and grocery retail sector has significantly boosted accessibility and convenience for consumers.
Restraint Disruptions in the supply chain can lead to product shortages, increased costs, and logistical challenges, hindering industry growth and profitability.
Trends The clean label movement is urging significant changes in the food and grocery retail industry, with consumers broadly seeking products made with simple, recognizable ingredients.

Category-wise Insights

The Black Friday sale market is categorized on the basis of product types, end users, consumer orientations, sales channels, and region. The section discusses the top two categories in this industry.

Black Friday Sales Generate Enormous Revenue from Consumer Electronics

Black Friday sales are one of the biggest opportunities for both consumers and retailers to make profits. A variety of products from various sectors such as clothing, footwear, beauty and personal care, consumer electronics, household appliances, accessories, books, toys and games, jewelry, and gift cards are purchased during these sales. Among them, consumer electronics are consumed the most, with a share of 24.7% in 2024.

Segment Consumer Electronics (Product Type)
Value Share (2024) 24.7%

Retailers and brands announce jaw-dropping offers and discounts on consumer electronic products such as mobile phones, laptops, gaming consoles, television sets, tablets, etc. This is the main reason why consumers get attracted to them and plan their purchases during these days. This is also the same season where people wish to upgrade their devices or purchase gifts for friends and family. All these factors positively impact the overall revenue generation during Black Friday sales.

Men are the Prime Consumers of Black Friday Sales

On the basis of end users, the Black Friday sale market is segmented into men, women, kids, etc. As of 2024, the men's segment holds an industry share of 36.6%.

Segment Men (End User)
Value Share (2024) 36.6%

Men have always been more inclined toward making big-ticket purchases. The consumer group devours electronics, gadgets, and consumer appliances, which are often heavily discounted during Black Friday sales. This is probably the reason why men are the principal consumers in the Black Friday sales period.

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Country-wise Insights

Although the Black Friday sales trend originated in Western countries in the late twentieth century, it soon spread to other countries by the beginning of the century. In countries like Australia, China, and India, due to the increased exposure of the Western world due to the internet and social media, the prominence of the shopping holidays reached its all-time peak.

Countries CAGR 2024 to 2034
Australia 14%
China 11.6%
India 9.5%
United States 8.5%
Germany 7.9%

Online Platforms to Aid Australia’s Black Friday Sale Industry

Australia’s Black Friday sale market is slated to show a 14% CAGR from 2024 to 2034.

In the last few years, the Australian eCommerce sector has seen some tremendous growth and expansion. Brands and retailers have listed their products on these platforms to reach a wider consumer base. During the Black Friday sales period, these brands turn toward online platforms so that they can capitalize on the increasing trend of online shopping. Several platforms like Amazon, e-Bay Australia, Catch.com.au, and Kogan.com are some of the online platforms supporting the growth of the Black Friday sale industry in the country.

Growing Influence of Western Culture Benefits China’s Black Friday Sale Industry

China also is a promising country in this industry. Over the next ten years, China’s Black Friday sale market is projected to rise at 11.6% CAGR.

China’s growing middle class has led to increased consumer spending in the last few years. Consumers are increasingly spending their disposable income on consumer electronics, fashion, and luxury goods. The Western influence on the youth of China is also one of the major drivers for the industrial growth of Black Friday sales. Retailers in China are also seen hopping on this trend to attract customers.

Cultural Familiarity and High Consumer Spending to Augment the United States Industry

The United States is also one of the most profitable countries in the global Black Friday sale market. The country is anticipated to exhibit a CAGR of 8.5% through 2034.

The Black Friday industry is growing significantly in the United States primarily due to the long tradition of the holiday shopping season. American consumers are also one of the largest spenders. With some of the leading companies across industries in the country, the United States Black Friday sale industry is poised for continued growth. Besides this, a strong and mature e-commerce presence further fuels industry growth.

Competition Outlook

The Black Friday sale market is very competitive as the brands and companies involved compete fiercely to attract consumers and drive sales. These companies start their promotions very early to gain more ground. Companies also collaborate with social media influencers and promotional pages to maximize their reach and attract more customers. Companies also offer exclusive deals and discounts to customers who sign up for their loyalty programs or newsletters, further incentivizing people to shop with them on Black Friday.

Industry Updates

  • In November 2023, Samsung US slashed prices for Galaxy Z and S23 models for Black Friday. Discounts of up to 25% were offered, along with enhanced trade-in deals, including a USD 600 credit for eligible devices. Accessories like cases and power banks were also discounted.
  • During the Black Friday sale in November 2023, Croma offered a significant discount on the Apple iPhone 15. With discounts for HDFC Bank credit cardholders and additional online buyer discounts, customers could avail of attractive deals on the latest iPhone model.

Leading Black Friday Sale Brands

  • Amazon
  • Walmart
  • Best Buy
  • Target
  • Macy's
  • Kohl's
  • Costco
  • Home Depot
  • Lowe's
  • JCPenney
  • eBay
  • Sears
  • Bed Bath & Beyond
  • Staples
  • GameStop
  • Newegg
  • Office Depot
  • ASOS
  • Zappos
  • Nike

Key Segments of Market Report

By Product Type:

Based on product type, the industry is categorized into clothing, footwear, beauty and personal care, consumer electronics, consumer appliances, accessories, books, toys and games, jewelry, gift cards, and others.

By Consumer:

Key consumers present in this industry are baby boomers, millennials, Gen-Z, Gen-X, and others.

By End User:

On account of end users, the sector is segmented into, men, women, and kids.

By Sales Channel:

Sales channels include both in-store and online sales.

By Region:

As per region, the industry is divided into North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa

Frequently Asked Questions

What is the Growth Outlook of the Black Friday Sale Market?

The global black Friday sale market is likely to grow by 15.2% during the forecast period.

What is the projected Value of Black Friday Sale Market By 2032?

The global black Friday sale market is predicted to be valued at USD 1,123.9 Billion by 2032.

What was the Historical Size of the Black Friday Sale Market?

The global black Friday sale market was valued at USD 226.4 Billion in 2021.

Which Country is the largest Dominant Share Holder in the Black Friday Sale Market?

The USA accounts for the largest revenue share of the global black Friday sale market.

Which Country has the Highest Growth Potential in the Black Friday Sale Market?

India is predicted to witness the highest CAGR of 37.4% in the black Friday sale market.

Table of Content

1. Executive Summary

2. Industry Introduction, including Taxonomy and Market Definition

3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments

4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections

5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034

    5.1. Product Type

    5.2. Consumer Orientation

    5.3. End User

    5.4. Sales Channel

6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type

    6.1. Clothing

    6.2. Footwear

    6.3. Beauty & Personal Care

    6.4. Consumer Electronics

    6.5. Consumer Appliances

    6.6. Accessories

    6.7. Books

    6.8. Toys & Games

    6.9. Jewellery

    6.10. Gift Cards

    6.11. Others

7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Consumer Orientation

    7.1. Baby Boomers

    7.2. Millennials

    7.3. Gen-Z

    7.4. Gen-X

    7.5. Others

8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End User

    8.1. Men

    8.2. Women

    8.3. Kids

9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel

    9.1. In-Store

    9.2. Online Sales

10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region

    10.1. North America

    10.2. Latin America

    10.3. Western Europe

    10.4. South Asia

    10.5. East Asia

    10.6. Eastern Europe

    10.7. Middle East & Africa

11. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

12. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

13. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

14. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

15. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

16. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

17. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

18. Sales Forecast 2024 to 2034 by Product Type, Consumer Orientation, End User, and Sales Channel for 30 Countries

19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard

20. Company Profile

    20.1. Amazon

    20.2. Walmart

    20.3. Target

    20.4. Macy’s

    20.5. Best Buy

    20.6. Puma

    20.7. John Lewis

    20.8. Luxe Strap

    20.9. Ebay

    20.10. Apple

    20.11. H&M

    20.12. Zara

    20.13. Adidas

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