During the forecast period, the Black Friday sale market is predicted to grow at a CAGR of 15.2%, with the overall market share estimated to reach nearly US$ 1,123.9 Billion by 2032, expanding from a total worth of US$ 273.1 Billion in 2022.
Black Friday, once a single day of chaotic shopping, has evolved into the opening day of a sale marathon that lasts until Cyber Monday. This shift is credited to its prominence on the global retail agenda, sparking a massive shopping spree leading up to Christmas and New Year parties.
Global retailers targeting Black Friday sales must now more than ever provide customers with delightful online experiences in view of the post-pandemic adjustments in consumer preferences. So, bounce rate, time on site, and other factors may change when you recognize the digital tools and resources that encourage customers to take action.
Get Recently Updated Report of Market as Sample Copy! https://www.futuremarketinsights.com/reports/sample/rep-gb-15813
The overall sales fell just short of the previous record in 2020 at US$ 8.9 billion. Some speculate that this was due to the pandemic’s lasting effects of out-of-stock products, extended shipping times, etc., as well as earlier online sales that may have taken some of the steam. Global, as well as regional retailers aiming to make a fortune out of Black Friday sale events, must deal with these quick-changing adjustments if they want to fully benefit from the shopping season.
Key Takeaways from the Black Friday Sale Market Study
- Based on product type, clothing goods are figured out to be the dominating segment contributing to almost 51% of the sales, followed by consumer appliances contributing nearly 24%.
- According to consumer orientation, market players mostly target the Gen-Z buyer segment, which is responsible for approximately 48% of the overall sales achieved globally. While millennial buyers also make up a substantial part of the market by contributing a market share of 28%.
- In the end-user category of the market report, men were found to be the major buyers during the Black Friday sale event, with overall sales of this segment amounting up to 48% of the overall sales.
- On the basis of sales channels, online sales are presently the prominent mode for Black Friday deals. This segment has exhibited constant growth over the past few years against in-store distribution channels and will capture almost 69% of the market share in 2022.
Gain Immediate Access to Detailed Market Insights: https://www.futuremarketinsights.com/checkout/15813
Competitive Landscape for the Black Friday Sale Market
- Amazon
- Walmart
- Target
- Macy’s
- Best Buy
- Puma
- John Lewis
- Luxe Strap
- New Egg
- Ebay
- Apple
- H&M
- Zara
- GoDaddy
- Adidas
- Big Rock
- Others
Key Segments
By Product Type:
- Clothing
- Footwear
- Beauty & Personal Care
- Consumer Electronics
- Consumer Appliances
- Accessories
- Books
- Toys & Games
- Jewellery
- Gift Cards
- Others
By Consumer Orientation:
- Baby Boomers
- Millennials
- Gen-Z
- Gen-X
- Others
By End User:
- Men
- Women
- Kids
By Sales Channel:
- In-store
- Online Sales
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube