Black Friday Arena: History, Statistics, Trends, and its Future - bluu.com
by bluu Carol on Nov 06, 2022
Black Friday is, without a doubt, the busiest shopping day of the year for both in-store and online shoppers. Shortly after that Thanksgiving dinner, millions of shoppers begin their venture for the ultimate deals without having to worry about breaking the bank.
Just three days after Black Friday, there's strictly an online shopping event called Cyber Monday. And there's nothing quite like discovering genuine outdoor Black Friday furniture deals like getting your Bluu Chaise Lounge Chair and Bluu Market Umbrella.
But do you know what Black Friday is all about, or the influence it has on the retail world?
Why is it called Black Friday?
The phrase referred to retailers, who often lose finances with a red-to-black profit narrative. Though this theory has been invalidated, it remains a seasonal shopping story.
In which U.S. city did the term "Black Friday" originate?
Unrelated to shopping, the term "Black Friday" was first coined during the panic of 1869, when financiers manipulated the securities market. President's intervention caused their arrangement to fall apart, which resulted in a stock market crash.
During the late 1950s and early 1960s, the term “Black Friday” was revived and exercised to refer to the day between Thanksgiving and the anticipation of Army-Navy football games. Where Philadelphia witnessed shoppers rush.
Of course, the name stuck, and by the 1980s, the concept spread to the rest of the US. Since then, Black Friday has progressed into a seasonal occasion that generates more shopping holidays, like Cyber Monday and Small Business Saturday.
When do Black Friday sales start in 2022?
Black Friday 2022 will officially take place on November 25, 2022.
Since the pandemic, major retailers have restricted opening early on particular days. You're always welcome to shop with Bluu Black Friday Big Sale, where you can save 30% store-wide on all Bluu patio products!
Black Friday online shopping: Past, present, and future
As stated in Nasdaq, inflation has driven up the cost of all goods by 8.2% between 2021 and 2022, according to data from the Bureau of Labor Statistics. Consumers are counting on discounts for vital relief. But inflation impacted retailers, too.
Social commerce has grown by 29% since 2020, and today it makes up 4.4% of US eCommerce sales and is predicted to make up over 5.2% of total e-commerce retail sales in the U.S. market by 2025.
So, what will consumer behavior and shopping habits look like in the future? The researched data suggests shoppers' following expected behaviors during the holiday period.
October is the new November. McKinsey reports, approximately 30% of Gen Z consumers are already on a shopping spree by the end of September, and through October, and 70% expect to start shopping before Thanksgiving.
According to Statista, 35% of consumers reported that they would not do their Black Friday sales shopping in stores during the pandemic times. In 2021, 32% favored outdoor shopping. This number is likely to double during the 2022 and future Black Friday shopping seasons.
The average Black Friday spending in 2020 was $410, which increased by around 5% to $430 in 2021. During 2021's holiday season, the NRF reports, nearly 154.5 million Americans made purchases in stores or online. Where 88 million buyers made purchases online and 66.5 million shopped in-store on Black Friday. Online shopping cart abandonment rates in the United States average above 70% on both desktop and mobile devices. Furniture and home furnishings stores saw an increase of 15%.
In 2020, Cyber Monday sales were 11% higher than in 2021. In 2021, we witnessed a trend shift, where Black Friday sales exceeded those on Cyber Monday by 23%.
The predicted busiest shopping days from November 25 to December 26 in the US account for the spending nature of consumer behavior and approximately 40% of all holiday retail traffic, making it the most eventful time for shopping days.
Outdoor furniture trends designed with Bluu Patio Furniture
Continue indoor aesthetics to the outdoors
Urban Zen Gardens
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Get the look: Take Bluu DIY Planter Raised Garden Beds and Bluu Backyard Green House are strong options if you have a small garden space. Mix and match your planters to design, put in some terracotta pots for that authentic energy, have a cute table setting to break up the look for the country-style vibes, and make sure you have a Lounge chair so you can admire the show.
The zen garden trend ties in well with sustainability, increasing engaging options for plants that stand out in look and bringing peace to your garden space.
Go on, tell us what you think!
Bluu's outdoor furniture adds a timeless elegance to your outdoor spaces, so it's not surprising that it's a popular selection with many homeowners. Avoid crowded parking lots and book your favorite furniture deals on Bluu's affordable Black Friday Big Sale.
Our furniture range can be arranged in any designed space you choose, so you can make it exactly as you desire for you and your family or guests.
From all of us at Bluu, we wish you a Happy Thanksgiving and a Black Friday full of great deals!
About the author
Written by Sneha Rane. She's an analytical and detail oriented Technical Writer, equipped with vast experience in rendering technical details into usable technical documentation in various industries.