“Black Friday” has come and gone, without a lot of the reports of shoppers pummeling each other or trampling security guards in a rush to get the special deals being offered on big-screen TVs or the hottest new toy. That’s because American shopping patterns appear to be changing, again and probably for good, and “Black Friday”–the day after Thanksgiving that had become the traditional madhouse start to the holiday shopping season–is becoming less of a focus.
CNBC is reporting that while shopping on Black Friday increased over last year, when many retailers operated on reduced hours due to COVID, in-store shopping was down 28 percent from 2019’s pre-pandemic levels. There was even a decline in on-line shopping on Black Friday, with retailers ringing up $8.9 billion in sales compared to $9 billion in 2020. And shopping traffic on Thanksgiving itself, when some retailers opened their doors, was down 90.4 percent from 2019 levels.
Analysts cited by CNBC believes that shoppers are spreading out their holiday shopping more than ever before and identified two reasons for the trend and the related drop-off in Black Friday traffic: continuing concerns about COVID and worries about the supply chain. A survey conducted by the National Retail Federation supports the “spread out” hypothesis. It found that 61 percent of American began their holiday shopping before Thanksgiving.
There’s no doubt that some people are still quite worried about the virus, and media reports on supply chain issues and potential shortages have likely had an impact, too, but I think the reason for the shift away from Black Friday madness has two other causes as well. One is earlier than ever holiday-themed commercials and retailer special deals (and holiday programming on outlets like The Hallmark Channel) that have served to remind people that Christmas is coming, and the other is a more fundamental shift in how to shop. During the height of the COVID pandemic shutdowns, even the most hardened in-person shoppers learned that they could basically do all their shopping on-line. When you see a special deal on TV in the weeks before Thanksgiving that you think would make a good gift and your computer is at your elbow, why wait to make your purchase?
I think the new approach might be something like this: start your shopping on your computer before Thanksgiving, take stock of the status of your shopping list when the boxes start hitting your doorstep, and then venture out to the brick-and-mortar stores in the weeks between Thanksgiving and Christmas, when the Black Friday madness has petered out, to fill in the gaps, get the stocking stuffers, and take advantage of any last-minute sales. Whether that scenario is borne out or not, we know one thing: the American consumer is flexible and always willing to try a new approach.