Black Friday Sees Modest Increases in Spending as Shoppers Adjust Strategies
LEXINGTON, Ky. – Black Friday, traditionally regarded as the official kickoff to the holiday shopping season, is shaping up for a more tempered approach this year. According to industry analysis, national spending is projected to rise by 2.5 to 3.5 percent compared to 2022, as shoppers become more selective in their purchases.
Steve McClain, director of communication and public affairs for the Kentucky Retail Federation, emphasizes that while Black Friday retains its allure, consumer behavior is shifting. “People are probably being a little choosier, a little pickier about what they’re actually shopping for,” he stated.
With Thanksgiving occurring later in the month, retailers are adapting by extending their promotional periods beyond just the day after Thanksgiving. McClain noted, “As the shopping patterns have changed, retailers have adjusted their calendars and their deals to try to catch those earlier,” indicating a move towards a more prolonged shopping period that spans several months rather than concentrating purchases within a brief window.
This year’s wish lists prominently feature classic gift items, including clothing, gift cards, toys, books, video games, and assorted food and candy. McClain highlighted that many popular children’s gifts continue to be inspired by long-standing favorites, stating, “Still seeing a lot of character-inspired gifts like Barbies and Spider-Man, those kinds of gifts are still popular.”
As the year-end shopping frenzy approaches, many of the nation’s largest retailers are set to open their doors as early as 5 a.m. on Black Friday, enticing shoppers with deals designed to cater to a wide range of preferences and budgets. With a changing retail landscape and evolving consumer habits, experts suggest that this Christmas season could see significant shifts in how individuals approach their shopping strategies.
As the holiday season unfolds, it remains to be seen how these trends will play out, offering a blend of traditional appeal alongside the necessity for updated retail strategies to meet modern consumer needs.
