Black Friday 2024: How big is the holiday shopping tradition?

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CLEVELAND, Ohio — Like The Masters on the professional golf tour, Black Friday is a tradition unlike any other for serious shoppers.

The day after Thanksgiving is one of the busiest shopping days of the year as the sprint begins to scratch off items on Christmas wish lists. With Thanksgiving falling on Nov. 28, the latest day possible, that gives shoppers only 26 days to get it done this year.

According to the National Retail Foundation, just over 200 million shoppers participated in Black Friday and its newer companion day, Cyber Monday, in 2023.

That leads to a key difference in Black Friday from its heyday in the 1980s, 1990s and early 2000s — the vast majority of those millions of shoppers, 75%, likely will do most of their purchasing online, with Amazon being the overwhelmingly most popular choice (85%), according to a survey from Drive Research, which polled 1,000 consumers in the U.S.

Walmart is the second choice for online shoppers (59%), then comes Target (57%), Best Buy (29%), Kohls (28%), Macy’s (27%), Sephora (20%), Old Navy (20%), Costco (19%), eBay (15%) and Home Depot (15%).

Still, millions of shoppers will pack stores when they open on Friday. Walmart (71%) is the most popular in-store choice, followed by Target (67%), Kohls (39%), Macy’s (38%), Best Buy (37%), shopping malls or centers (34%), Marshalls (28%), Old Navy (28%), TJ Maxx (28%), Costco (26%), and Sephora (25%), the survey shows.

The crush of shoppers at stores and malls can sometimes lead to heated moments. The Drive Research survey shows 24% of respondents say they have been shoved or pushed by other shoppers, with 9% saying they got into shouting matches and 5% actually involved in physical altercations.

This doesn’t slow the sales. Adobe Analytics shows there were $9.8 billion in online sales on Black Friday in 2023, CNBC reports. That number is expected to top $10 billion this year. That’s despite the Drive Research survey showing about 20% of respondents plan to spend more than $1,000 on gifts this year, a 3% decrease from 2023.

Clothing and accessories are the most popular items purchased (81%), with electronics close behind (75%). Household appliances, health and beauty products, toys, books, arts and crafts, and fitness equipment are among the most popular purchases.

The survey shows 34% plan to begin shopping on Thanksgiving Day, most likely online because most major retailers do not open until Friday. Thirty percent say they will begin shopping between 5 a.m. and 10 a.m. on Friday.

Promotions and big sales are the biggest reason for Black Friday shopping, but free shipping also is key, the survey shows.

Retailers should note that most shoppers have little patience for waiting checkout lines … only 29% say they’re willing to wait one to more than two hours, with 42% saying they’ll tolerate 30-minute waits.