The Best Black Friday Statistics for Your Business in 2023


CONTENTS


In the ever-evolving world of global commerce, few events wield as much influence as Black Friday.

What started as a modest post-Thanksgiving sale in the 1950s has blossomed into a shopping extravaganza that shapes consumer behavior and business strategies worldwide.

As November’s fourth Friday approaches, businesses gear up to launch a flurry of discounts and deals that captivate shoppers’ attention.

In this article, we dig into the heart of this monumental shopping holiday armed with an array of Black Friday statistics.

From the jaw-dropping value of Black Friday sales in the United States to the fascinating trends that consumers follow during this shopping frenzy, the Black Friday statistics paint a vivid picture of the annual retail spectacle.

In our newest eBook, we break down the numbers to uncover strategies that pave the way for eCommerce success during Black Friday, examining not only Black Friday sales statistics but also Black Friday web traffic and other key Black Friday figures.

Download it for FREE below!

Black Friday Through the Ages: A Brief History

black-friday-trends

While Black Friday’s frenzied shopping and jaw-dropping deals are familiar to many, the origins of this retail phenomenon are rooted in a different era.

The term “Black Friday” first emerged in the 1960s, depicting the day after Thanksgiving when Philadelphia retailers experienced heavy foot traffic and chaotic shopping.

This led to a contrasting association of “black” with bustling business activity.

Over time, Black Friday evolved from a local concept to a nationwide sensation, marked by early bird specials, midnight store openings, and bargain-hunting fervor.

The digital age ushered in Cyber Monday, bridging the gap between in-store and online shopping.

Today, Black Friday stands as an annual retail spectacle, reflecting the changing landscape of commerce, technology, and consumer behavior.

It’s a testament to the enduring power of discounts and the thrill of finding the perfect deal, making it a cornerstone of the holiday shopping season.

19 Black Friday Statistics to Help Prepare Your Business in 2023

Black Friday Sales

black-friday-statistics

Beyond the excitement and chaos, there’s a story told by numbers – the data that paints the picture of Black Friday’s impact.

We’re talking about the mind-blowing sales figures and the average amount each customer spends.

Buckle up as we explore these digits that reveal the economic force and shopping power of Black Friday.

  • Sales during Black Friday generate an average of nearly 10 billion dollars in the US, showcasing the significant Black Friday sales numbers.
  • On average, each customer spends $256 on Black Friday and Cyber Monday combined.
  • The United States ranks 8th globally for per capita spending during this period, with China leading at $438 and Denmark at $262, indicating global black friday trends.

Cyber Five Sales in the U.S.

Ah, Cyber Week – the digital sibling of the Black Friday frenzy. This is where the online shopping game takes center stage.

But what’s the deal with the Cyber Five?

Join us as we unravel the magic behind this five-day digital bonanza, breaking down what makes it a pivotal moment for eCommerce and why businesses eagerly embrace this online whirlwind.

black-friday-statistics
  • Cyber Monday is the biggest online shopping day in the U.S. holiday season, with projected sales close to 12 billion U.S. dollars.
  • Black Friday follows with expected sales of around 9.8 billion U.S. dollars.
  • Over the five-day Cyber Five period, digital sales are anticipated to reach approximately 37 billion U.S. dollars, illustrating the scope of Black Friday stats.

BFCM Consumer Trends

Let’s shift our focus to the real stars of this show – the shoppers. It’s not just about the days, it’s about the people.

We’re diving into the ecommerce trends and habits of these savvy consumers, exploring the Black Friday shopping stats.

From the sectors that make them tick to the fascinating planning quirks of different generations, we’re spilling the beans on the shopping secrets that retailers can’t afford to ignore.

black-friday-statistics
  • Sectors with the highest customer interest are fashion, personal care, and sports, followed by toys and technology products, as seen in black friday shopping statistics.
  • 40% of Gen Z shoppers start planning for Black Friday at least two weeks in advance.

Most Popular Black Friday Products

Picture this: amidst the shopping frenzy, there are certain products that grab attention like celebrities on a red carpet.

We’re lifting the curtain on the trending products that dominate Black Friday’s limelight, influencing the black friday figures.

This is where we unravel the industries that see a surge and peek into the magic potion that makes certain products irresistible.

black-friday-statistics
  • Regardless of the sector, technology products attract the most significant demand, contributing to the black friday sales numbers.

Top Payment Methods

Cash, card, or contactless? The way we pay is changing, and Black Friday is no exception.

Imagine a world where digital wallets and innovative payment platforms are the cool kids on the block.

Curious to know how shoppers are shelling out their dollars? Join us as we explore the fascinating world of checkout preferences, revealing insights into black friday ecommerce stats.

  • Convenient payment options are crucial; in 2022, 13% of Black Friday online shoppers used Apple Pay, marking an 8% increase from the previous year, showcasing a significant aspect of black friday web traffic.
  • Other popular payment methods included Buy Now Pay Later (BNPL) services (10%), cryptocurrency payments (5.1%), Google Pay (10%), and Venmo (8.2%), diversifying the landscape of black friday stats.
  • Approximately one-third of shoppers used credit cards, point-of-sale loans, or installment plans, shaping the black friday sales data.
black-friday-statistics

Customer Behavior during BFCM

Behind the screens and clicks, there’s a behavioral dance taking place. We’re talking about the patterns of online searches, the clockwork timing of peak activity, and the device choices that consumers prefer, all of which contribute to the understanding of black friday figures.

Want a backstage pass to the theater of online shopping?

Hang tight as we unravel the story of ecommerce search statistics during these electrifying shopping days.

  • Search activity increases significantly during Cyber Week, with peak searches nearly doubling.
black-friday-statistics
  • The time with the highest number of product searches is 9:40 AM, indicating a critical period for black friday trends.
  • Although product searches increase throughout the day on Black Friday, most activity occurs between 8:00 am and 8:00 pm, showcasing peak hours for black friday shopping statistics.
  • Peak demand hours are between 9:00 AM and 11:00 AM, illustrating a concentrated period of high shopping activity.
  • Desktop searches slightly outnumber mobile searches, comprising 57% of searches during Cyber Week, impacting black friday web traffic.

Conversion Rates during Cyber Week

In the realm of eCommerce, conversion rates are the ultimate high-fives. Now imagine these rates going through the roof during Black Friday.

We’re decoding the dynamics of conversions – the ups, the downs, and everything in between, contributing to the black friday stats.

So, if you’ve ever wondered how businesses measure their success during this whirlwind, get ready for some enlightening insights.

black-friday-statistics
  • Conversion rates experience substantial surges during BFCM, ranging from approximately 28% to 44% compared to typical days, playing a vital role in black friday sales statistics.
  • On average, the conversion rate stands at 9.14%, translating to roughly 1 in every 10 searches leading to a successful sale, a critical metric in understanding black friday shopping stats.

Black Friday FAQs

How much money is spent on Black Friday? 

In recent years, the total spending in the United States on Black Friday was around $9.03 billion. People spend a lot of money on Black Friday! It’s a big shopping day!

Why is it called Black Friday? 

The name “Black Friday” was originally used to describe the crazy traffic jams and busy streets on the day after Thanksgiving in Philadelphia, USA, back in the 1960s.

When it comes to shopping, the name got associated with businesses making a profit.

Stores might be “in the red” before Black Friday, meaning they’re not making much money. But after people shop like crazy on Black Friday, stores can end up “in the black,” meaning they’re finally making a profit!

When did Black Friday start in the US? 

The name “Black Friday” really caught on in the 1960s, but the idea of shopping after Thanksgiving has been around for a while.

It’s said to have started in Philadelphia, where people used it to describe the rush of shoppers and tourists.

Over time, the special sales and deals on the day after Thanksgiving spread across the US.

So, even though it’s been around in some form for a long time, the name and the big shopping event we know today really started getting popular in the 1960s.

Navigating Black Friday 2023 with Statistics & Data

In the realm of Black Friday, numbers become more than digits – they’re blueprints for eCommerce success.

From the surge of sales to the ebb and flow of consumer behavior, we’ve unveiled the strategies that turn chaos into conversions.

As the Black Friday buzz fades, remember that these insights are your compass.

Whether you’re optimizing your site or embracing innovative tech like Doofinder, the path to triumph is paved with data-driven decisions.

So, as the next Black Friday dawns, armed with knowledge, go forth and conquer the digital shopping frontier.

Conquering Cyber Week – Your FREE Black Friday Success Guide

Explore our latest eBook where we analyze data to reveal effective strategies for achieving eCommerce success on Black Friday.

We delve into not just Black Friday sales figures, but also web traffic and essential metrics. Get your FREE copy now!

FREE EBOOKS