78 Black Friday Statistics You Must Read: 2024 Market Share & Data Analysis

Black Friday is, without a doubt, the zenith of bargain shopping for both in-store and online shoppers. Black Friday statistics depict this as a day when shoppers are on the hunt for the best offers without having to worry about breaking the bank.

The day kickstarts the frenzy holiday shopping season with eye-catching promotional deals that lure shoppers into spending their hard-earned cash. Whether it’s making a tour to the mall, looking for a unique appliance on Main Street, or buying online from the comfort of the couch, this is a day when shopping shifts into high gear.

In this post, we’ve culled the latest search trends, sales volumes, statistics, and patterns around Black Friday. This includes the recent impact of the pandemic. With this information at your fingertips, you should get a better grasp of the fickle nature of modern consumers, especially during the season. We’ll also uncover trends that you can use to your advantage, including shopping cart use, social media shopping, and the like, to make sure you are one step ahead of the competition.

1. Shoppers Statistics

The total number of Thanksgiving shoppers has grown significantly from 174.6 million in 2017 to 189.6 million in 2019. However, because of the current COVID-19 pandemic, the number has dropped to 186.4 million. But, for the first time, the number of online Black Friday shoppers have reached the 100 million mark. This is an 8% increase over the last year.

Black Friday 2019 Rewind

• Black Friday 2019 was the busiest day for in-store activity during the Thanksgiving weekend with 84.2 million shoppers. On the other hand, 93.2 million consumers shopped online during Black Friday 2019. (National Retail Federation, 2019)
• Also, 58% of Gen Z, 54% of millennials, 39% of Gen X, and 37% of baby boomers rely heavily on Black Friday. (Deloitte via CNBC, 2019)
• During Thanksgiving weekend, 86% of consumers are swayed by price when selecting a retailer. On the other hand, 78% and 76% of consumers are swayed by products and convenience, respectively. (Deloitte, 2019)
• The factors influencing buying decisions on Black Friday include free shipping (49%), promotions/limited-time sales (36%), easy-to-use website/app (21%), and Buy-Online-Pick-In-Store (BOPIS) (20%). (National Retail Federation, 2019)
• Interestingly, 31% of consumers prefer to shop in-store on Black Friday because of the overall excitement of that day. (Deloitte, 2019)

What time did shoppers intend to go to stores in 2020?

• In 2020, 36% of customers expect to go to the store at midnight to 6 AM. (Deloitte, 2020)
• 46% of customers, in 2020, expect to go to the store around 7 AM to 10 AM. (Deloitte, 2020)
• Only 17% of Black Friday shoppers are unsure what time they are to go to the store. (Deloitte, 2020)

How much did shoppers expect to spend on Black Friday 2020?

• 32% of consumers were likely to buy nothing on Black Friday and Cyber Monday in 2020 compared to 2019. (IMI International, 2020)
• 31% of consumers surveyed did not know that they would buy or spend less. (IMI International, 2020)
• 17% of consumers surveyed responded that they would spend in 2020 more or less the same amount in 2019. (IMI International, 2020)
• 10% of consumers were split on spending much more or just a little more. (IMI International, 2020)
• The share of consumers who planned to do most of their shopping on Black Friday in the US plummeted from 59% in 2015 to 36% in 2020. (PwC, 2020)
• Only 7% of customers would spend a lot less and only 5% answered that they would spend a little less. (IMI International, 2020)

Customers’ reasons for in-store shopping

• 73% of consumers plan to shop in-store on Black Friday in 2020 to take advantage of sales or the best deals they can get for the season. (Deloitte, 2020)
• 46% shop in-store to enjoy shopping with friends or family as a part of their Black Friday ritual. (Deloitte, 2020)
• 27% plan to shop in-store because of the overall excitement of the day. (Deloitte, 2020)
• 23% prefer to shop in-store instead of online shopping. (Deloitte, 2020)

Reasons US shoppers did not want to shop in physical stores

• 60.8% of consumers reasoned that they do not plan to shop in-store because there would be too many crowds. (Drive Research, 2020)
• 57.1% had health or safety concerns because of the pandemic. (Drive Research, 2020)
• 48% stated that it is not worth the hassle, while 40.9% cited the long lines as a reason. (Drive Research, 2020)
• 25% stated that they could find better deals online. (Drive Research, 2020)
• 20.5% didn’t want to shop in-store cite parking issues. (Drive Research, 2020)
• 16.9% didn’t want to shop in-store because of financial reasons. (Drive Research, 2020)
• 9.3% that didn’t want to shop in-store cited that they don’t have enough time as a reason. 4.6% have other reasons not specified. (Drive Research, 2020)

As statistics show, Black Friday 2020 wasn’t the busiest day for in-store activity. What’s intriguing though, is that online shopping has become more popular during the day.

2. Black Friday Sales Statistics

Black Friday 2020 came second to Cyber Monday when it comes to online sales. Cyber Monday 2020 garnered $10.8 billion which makes it the biggest e-commerce day in US history. Black Friday 2020, on the other hand, saw an online spending increase of about 22% YoY to around $9 billion.

Black Friday Sales Statistics Rewind

• According to Deloitte, the average in-store spending on Black Friday 2019 was predicted to reach $128. (Deloitte, 2019)
• Besides, 37% of consumers had planned to use the BOPIS shopping option during Black Friday. (Adobe Holiday Shopping Report, 2019)
• Additionally, BOPIS sales increased by twofold compared to 2018. (Adobe Holiday Shopping Report, 2019)
• In 2018, the total adjuted sales for November was $435.5 billion. This represents a 7% increase from the amount recorded in 2016. (Finder, 2018)

Black Friday 2020 Sales Statistics

• The Black Friday 2019 sales reached $142.4 billion. (Adobe, 2020)
• $184 billion was the predicted Black Friday 2020 sales revenue. (Adobe, 2020)
• The actual Black Friday 2020 revenue sits at $188.2 billion. (Adobe, 2020)

The staggering amount spent online, typified by the growing order value, shows that consumers are spending heavily online. This replaced much in-store buying activity during a pandemic-stricken economy. And, as e-commerce has shown that it can also be efficient, this trend may intensify in the future. The convenience and simplicity rendered by online deals will continue to nudge consumer interest to spend online.

However, all is not all gloom for brick-and-mortar stores. The continued growth of multichannel shopping shows that not all consumers are willing to let go of in-store shopping. Moreover, the growth of Buy-Online-Pickup-In-Store (BOPIS) shows that the brick-and-mortar store remains a focal point for holiday shoppers.

3. Retailer’s Black Friday Statistics

Because of the COVID-19 outbreak, Black Friday 2020 witnessed significant drops when it comes to traffic. However, we have also witnessed a rise in average transaction value.

• Traffic numbers for physical stores were down 42.3% in 2020. (RetailNext via Forbes, 2020)
• The average transaction value was also up 4.9%. (RetailNext via Forbes, 2020)
• Traffic in non-mall stores did slightly better than mall stores. The former was only down 41% YoY against the latter’s 44%. (RetailNext via Forbes, 2020)
• In another study, traffic data show that visits to brick and mortar stores during the Black Friday weekend in 2020 decreased by 49% compared to 2019. (RetailNext via Forbes, 2020)

As Phillip Rist (Principal – Prosper Business Development) opines, “ the growth of online retail sales is a powerful tide that elevates everybody.” This tide is at its peak during Black Friday, and many retailers go all out to ride the wave. However, only those that have invested in ecommerce technology continue to reap the top reward.

Take Amazon, for example. The ecommerce giant has put in place technology that provides a seamless shopping experience across all platforms. As a result, the platform has won the trust and loyalty of many consumers. It’s not surprising, then, that Amazon continues to do well on Black Friday. The same goes for Walmart, thanks to pivoting its business to accommodate hybrid commerce.

For beginners, using a reliable ecommerce platform for small businesses can give your business the impetus it needs to thrive during Black Friday.

4. Popular Buys Statistics

There is no doubt; consumers consider plenty of things before making any purchase during the holidays. This includes Black Friday and Cyber Monday. However, on top of their consideration are not just the sales and discounts but also what other consumers think about certain products.

Black Friday and Cyber Monday 2020: Things and information people look for

• The top five things that people will be looking for in 2020 as compared to 2019 are items being on sale (23%), being local (18%), consumer reviews (17%), recommendations (12%), and things that are new (11%). (IMI International, 2020)
• Only 9% look for items that are made in their country. Only 7% are looking for something sustainable. (IMI International, 2020)
• 7% of consumers look for items that they think are cool. 5% look for those that support charity. Another 5% look for items that are environmentally friendly. (IMI International, 2020)
• Only 4% of consumers look for items that support social justice. (IMI International, 2020)

Leading results when searching “kids toys” during Black Friday

• Leading results for Amazon are LEGO (40%) and Crayola (10%). (Edge by Ascential, 2020)
• The top three search results on Target are Osmo (30%), Creativity for Kids (20%), and B. Toys (10%). (Edge by Ascential, 2020)
• The top results at Kohl’s are Step2 (20%), Barbie (10%), Fisher-Price (10%), Hot Wheels (10%), and Nerf (10%). (Edge by Ascential, 2020)

Leading results when searching “board games” during Black Friday

• The top results on Amazon are Hasbro (40%), JAX Games (10%), Learning Resources (10%), and What Do you Meme (10%). (Edge by Ascential, 2020)
• The top results on Best Buy are Hasbro (60%), Cephalofair Games (10%), Days of Wonder (10%), Funko (10%), and Mattel (10%). (Edge by Ascential, 2020)
• The top results on Target are Hasbro (60%), Exploding Kittens (20%), and JAX Games (10%). (Edge by Ascential, 2020)
• The top results on Walmart are Hasbro (70%), Asmodee (10%), Days of Wonder (10%), and Mattel (10%). (Edge by Ascential, 2020)

Top Shopping Cart Software

The holidays aren’t over. You can still take advantage of the upcoming Christmas spending, but make sure your ecommerce solution could scale to peak season, as these solutions:

1. Shopify Plus. A cloud-based ecommerce tool for high-volume merchants that supports multi-channel sales, analytics, account management, and payment processing. More details in our Shopify Plus review.
2. Squarespace. A cloud-based shopping cart software built with a dynamic style editor to help small business owners launch online stores. Our Squarespace review provides details of its capabilities.
3. WooCommerce. Boasting enterprise-level features, this ecommerce toolkit helps users convert their WordPress website into an online store. This WooCommerce review will reveal the product’s capability in detail.
4. PrestaShop. Offering robust functionality, this open-source ecommerce solution enables users to create appealing online shops. This PrestaShop review will walk you through its full capability.
5. Volusion. A scalable ecommerce platform that provides a user-friendly interface to empower entrepreneurs to create online stores with ease. For more details, read our Volusion review.

5. Conversion Rates and Cart Abandonment Statistics

Generally, consumers are motivated to complete sales before Black Friday promotions end or products are out of stock. This presents a huge opportunity for retailers to increase sales and boost overall business performance. Unfortunately, as the stats reveal, the abandonment and conversion rates are promising but do not live up to the hype around Black Friday.

• The average conversion rate was up by 3.8% in 2020 compared to 2019. (RetailNext via Forbes, 2020)
• The share of revenue by device is 39% for smartphones which is pegged at $74.6 billion, while laptops and other devices are at 61% with an amount of around $133.6 billion. (Adobe, 2020)
• The conversion rate for smartphones by Cyber Monday is 3.31%. (Adobe, 2020)
• The conversion rate for laptops and other devices by Cyber Monday is 7.2%. (Adobe, 2020)
• From November 1 to December 31, 2020, there were 25 out of 61 days that had $3 billion or more in revenue. (Adobe, 2020)
• 37% of total Cyber Monday sales are from mobile devices. (Adobe via Forbes, 2020)
• 30% growth of curbside pickup YoY on Cyber Monday. (Adobe via Forbes, 2020)
• The global shopping cart abandonment occurrence is at 77.79%. (Barilliance, 2020)
• The cart abandonment in the US during Black Friday reached 79.83%. (Barilliance, 2020)
• In the US, the total conversion rate is only at 2.29%. (Barilliance, 2020)

From these stats, it’s easy to see that the conversion rates are not overly convincing. Moreover, the abandonment rate during the Black Friday shopping frenzy is alarming. Luckily, the decreasing abandonment rates show that retailers are turning things for the better. However, its snail-paced nature means more needs to be done to get the most out of this short shopping period. For starters, it pays to learn about the shopping cart software and implementing one that optimizes conversion.

6. Mobile Commerce Statistics

Black Friday happens during the Thanksgiving Weekend when there is a sudden upsurge in mobile use. This is the time of the year when the use of mobile is nearly double the predicted share for the entire season. This, coupled with the proliferation of mobile devices, has made  Black Friday a mobile shopping event. And also, COVID-19 restrictions played a huge role.

Black Friday 2019 Rewind

As Black Friday statistics show, in 2019, online retailers got a majority of their traffic from smartphones.

• Interestingly, 58% of traffic during Black Friday 2019 came from smartphones. Desktop accounted for 37%, whereas tablets contributed a meager 5%. (Adobe Holiday Shopping Report, 2019)
• However, only 36% of sales were completed on mobile, compared to 59% of desktop devices.
• In 2018, 66% of online sales from Shopify merchants happened on mobile devices during the Black Friday Cyber Monday weekend. (Shopify, 2018)
• Besides, 75% of consumers used mobile devices to research products, compare prices, and complete purchases. (National Retail Federation, 2019)

Mobile continues to grow as a channel for Black Friday, both in terms of traffic and sales. To put this into perspective, a comparison between Black Friday 2018 and 2019 figures reveals that mobile traffic has grown by 7%. On the other hand, the traffic from desktop and tablets dropped by 4% and 3%, respectively.

Black Friday 2020 Mobile Commerce

• In 2020, ecommerce sales during November including Cyber Monday reached $100 billion for the first time. (Adobe via CNBC, 2021)
• The online Holiday purchases in the US in 2020 grew 32.2% compared to 2019. (Adobe via CNBC, 2021)
• 37% of digital sales on Cyber Monday were made on mobile devices. (Adobe via CNBC, 2020)
• Online sales have reached $10 billion on Cyber Monday. This is the biggest ecommerce day in US history. (Adobe via CNBC, 2020)
• Online sales on Black Friday rose to about 22% YoY to $9 billion. (Adobe via CNBC, 2020)
• Smartphones increasingly accounted for a portion of online sales up 25.3% at $3.6 billion. (TechCrunch, 2020)
• 70% of sales made on Shopify were made via smartphones. (TechCrunch, 2020)

Mobile shopping is undoubtedly easier and faster for the shopper, and it translates to more dollars per minute for the retailer. Because of this, retailers need to think mobile-first when it comes to Black Friday in the coming years. Besides, you should study the most recent mobile marketing trends and apply methods that can boost your activities during Black Friday.

However, retailers shouldn’t overlook the importance of desktop machines. Despite recording a decrease in traffic levels, the desktop is still a force when it comes to conversion.

7. Social Media Statistics

With the growth of social media as a marketing tool, consumers are turning to it for inspiration and deals. Consumers are increasingly clicking through on the deals they find on social media. As a result, the revenue generated from social channels is growing, albeit at a snail’s pace.

Black Friday Social Media Statistics Rewind

• Black Friday traffic stemming from social media had grown from 4% in 2016 to 11% in 2019. (Adobe Holiday Shopping Report, 2019)
• In addition, 20% of consumers had bought a product following a recommendation by social influencers. (Adobe Holiday Shopping Report, 2019)
• The use of Instagram and Pinterest to find deals increased by 73% and 45%, respectively. (National Retail Federation, 2019)
• Consumers were more engaged with emails received from retailers during the holiday shopping season. As a result, open rates increase by 6% and email clickthrough rates rose by 4%. (Adobe Holiday Shopping Report, 2019)

Black Friday Social Media Statistics 2020

• Black Friday 2020’s conversion via social media is bigger than 2019. There had been an increase of 175% in total messages about Black Friday YoY. (Sprout Social, 2020)
• There also was a 968.5% increase in total engagements on Black Friday messages YoY. (Sprout Social, 2020)
• There was also a recorded 6.25% increase in positive sentiment on Black Friday messages YoY. (Sprout Social, 2020)
• Black Friday posts have seen a 1301.7% increase in comments from November 1 through 23. (Sprout Social, 2020)
• 40% of consumers expect a response within an hour to questions, messages, and comments on social media. (Sprout Social, 2020)
• Some 79% of customers expect a reply within 24 hours. (Sprout Social, 2020)

Numbers don’t lie, and it’s clear that social media traffic has grown a lot. So, businesses should learn more about the current social media trends to understand how the social landscape is tilting. This way, you’ll adopt better strategies to tap into social media traffic.

What Do These Black Friday Statistics Mean for Your Business?

There you have it, our compilation of the latest Black Friday statistics. Hopefully, you’ll use these statistics, trends, and data to the advantage of your business. As you already know, preparing your store for Black Friday isn’t difficult, but it takes meticulous planning.

Black Friday is, without a doubt, a huge deal for ecommerce. While the day was not initially meant for online shopping, it seems consumers are deviating from the norm. As a result, the day is receiving a significant amount of online traffic, and you need to take advantage of this. For starters, this means beefing up online efforts and ensuring that the additional traffic during the frenzy won’t bog down your website.

Besides, you should create a buzz around Black Friday to get people excited, beforehand. An effective way to accomplish this is by posting teasers and sneak peeks of your deals on social media. And not just that. Strive to be unique with your offers. Consumers nowadays hate generic promotions and discounts. If you establish a unique angle for your initiatives, you’ll surely grab the shopper’s attention.

Most importantly, consider doing conversion rate optimization (CRO) and mind mobile commerce. As we have seen, shoppers are increasingly doing their online activities from their mobile devices. As such, you need to ensure your website is mobile-friendly to serve shoppers better on a busy day. Moreover, rolling out an elaborate CRO strategy will reduce cart abandonment during Black Friday, and ultimately, boost your margins.

You can read our guide on the leading shopping cart software to find one that can boost your conversion rates.

By Astrid Eira

Astrid Eira is a resident B2B expert of FinancesOnline, focusing on the SaaS niche. She specializes in accounting and human resource management software, writing honest and straightforward reviews of some of the most popular systems around. Being a small business owner herself, Astrid uses her expertise to help educate business owners and entrepreneurs on how new technology can help them run their operations. She's an avid fan of the outdoors, where you'll find her when she's not crunching numbers or testing out new software.