Is Black Friday still relevant in 2024?

Is Black Friday still relevant in 2024?

The 4th Friday in November is better known as Black Friday - one of the busiest shopping days of the year. A symbolic kickstart to Christmas shopping (for those who haven’t filled their baskets already), retailers compete against each other offering bigger and better discounts. All to bag their share of festive shoppers. But do consumers actually still care about Black Friday or has the event had its day?

This blog dives into all things Black Friday, asking where it came from in the first place, whether Black Friday deals are actually any good and if Black Friday still a thing in 2024?

So, when did Black Friday start and why is it called that anyway?

It’s been big deal in the USA for a long while now, where as far back as the late 1800s, it was common for big stores to sponsor the Thanksgiving Day parades. Then as soon as Thanksgiving ended, the holiday season sales started.

Black Friday as an actual event properly came about around the 1940s, when business owners asked President Roosevelt to move Thanksgiving back a week so that Christmas sales could kick in earlier.

Thanksgiving Day Parade, New York.

It was in the late eighties where the ‘moving from the red into the black’ narrative came about as Black Friday signified the day that most stores began to turn a profit for that year.

Black Friday hit our shores in 2010 when Amazon brought their online shopping event to the UK, with supermarket ASDA launching the first in-house Black Friday store event in 2013.

When is Black Friday this year?

In 2024 Black Friday falls on Friday 29th November. What used to be a one-day event, Black Friday is now one of the biggest shopping events of the year, lasting up to a week and with every retailer and their nan taking part.

It even blurs into Cyber Monday (which follows the Black Friday weekend) originally offering exclusive online-only discounts. However, these discounts now stretch across the whole event. And it’s not just the big retailers, with the Small Business Saturday counter campaign also battling for the attention of consumers, asking them to shop local. As well as the arrival of Giving Tuesday, encouraging people to make charitable donations.

But has Black Friday as an event become oversaturated? Are the deals even good deals at this point? We’ll look at this now and some of the stats may surprise you…

Are Black Friday deals any good?

The answer to this question completely depends on whether or not you:

a) actually want or need something and

b) if it’s genuinely cheaper than it is the rest of the year

Let’s start with a). If you’re going to get all caught up in the frenzy of Black Friday, flitting from one shop (or website) to the next to see what ‘bargains’ you can find, then chances are you won’t be bagging the best deals. You’ll just be spending money on products you may not have even needed or wanted in the first place until temptation got the better of you. If this sounds like your buying behaviour, then write a shopping list first (and a budget) and stick to it!

When it comes to b) and pricing, there are some amazing deals to be had. You just need to do your research. Is the price discounted or has it been cheaper over summer, only for the retailer to hike it up then drop it down to look like an unmissable Black Friday deal?

In fact, a Which study in 2022 showed that only 2% of Black Friday sales were cheaper on that day. The vast majority of products were actually cheaper at other times of the year!

High ticket items can be a minefield in particular. So many people will be on the lookout for deals on expensive gadgets and household appliances, but research shows that Black Friday is not necessarily the best time to shop for products like smart watches, soundbars and coffee machines. Certain products however, like smart TV’s and tablets however are worth at, with Black Friday prices coming up as some of the cheapest of the year. It really does pay to do your research!

Be prepared!

Writing a list beforehand of what you would like (or need) to buy over the festive period and what it costs helps. A party dress from the store you love, his favourite aftershave for a gift, that computer game they’ve been begging for. If you do your research before the day, then you’ll be able to spot a deal better.

Black Friday – a yay or a nay in 2024?

There definitely seems to be a savvier shopper on the rise at this time of year. One that retailers will have to beware of before claiming that their amazing Black Friday 2024 deals are ‘not to be missed’.

Still, the shopping event of the year shows no sign of dying out anytime soon. Last year, consumers in the UK alone spent an estimated 13 billion over the Black Friday period!

And there’s no denying that it comes at a good time of year for those wanting to complete, or kickoff their Christmas shopping.

But before you go Black Friday bonkers this year then just stop and take a breath. Ask yourself do I really want or need what I’ve just thrown in my basket, and could I actually get it for less money?

Happy shopping!