December 6, 2024 • 14 mins
What if Black Friday as we know it is undergoing a monumental transformation right under our noses? Join us to unravel how this iconic shopping event is leaving its crowded aisles behind for the digital frontier. With inflation and economic uncertainty casting a shadow, we unpack the surprising 3.4% retail sales increase reported by MasterCard. Online shopping platforms like Adobe and Salesforce have shattered records, showcasing the undeniable shift to digital. The toy industry has made a formidable comeback, with a jaw-dropping 622% leap in online sales, illustrating the profound change in our shopping habits. Discover how AI technologies, from generative AI to chatbots, impacted the retail landscape of Black Friday 2024.
As we venture beyond the sales figures, we dive into the broader implications of these shifts for conscious consumers. Reflect on your purchasing habits and the power of your wallet in promoting sustainability and values-driven choices. We're here to inspire a more thoughtful approach to Black Friday shopping—one where deals are balanced with the responsibility toward our planet and communities. Join us in understanding the recent Black Friday numbers, and where Retail businesses might be headed.
https://www.retaildive.com/news/winners-losers-black-friday-2024-online-store-sales/734236/
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hey everyone, welcome to your deep dive on Black
Friday 2024.
We're going to be breaking downthis retail dive article
Winners and Losers of BlackFriday 2024.
And you know really, just kindof seeing what it tells us about
where retail is at right now.
I mean, is Black Friday even athing anymore?
You don't really see peoplecamping out in front of stores
like they used to.
Speaker 2 (00:20):
Yeah, it's interesting to see how it's all
playing out, especially, youknow, with the economy the way
it is.
Inflation's still stickingaround, there's all this talk
about new tariffs, and I think alot of people are just being
careful with how they spendtheir money.
Speaker 1 (00:32):
Yeah, for sure.
Even Nordstrom is seeing like aslowdown in their sales.
It kind of feels likeeveryone's just holding their
breath a little.
Speaker 2 (00:38):
Absolutely.
And speaking of uncertainty,MasterCard's data shows that
retail sales overall in the USwere up 3.4 percent compared to
last year.
But here's the thing thatnumber doesn't account for
inflation.
Speaker 1 (00:51):
OK, so let me get this straight Sales are up, but
inflation is eating away ateveryone's budget.
So is it really growth?
Speaker 2 (00:58):
Well, that's the million dollar question, isn't
it?
Speaker 1 (01:00):
Yeah, I mean, it's like getting a raise, but then
your rent goes up even more.
Speaker 2 (01:03):
Right, not exactly something to celebrate.
Speaker 1 (01:11):
No, not really, but here's where things get
interesting.
Block, the company behindSquare.
They found that people's onlineshopping carts were twice the
size of in-store carts.
Speaker 2 (01:17):
Hmm, that really says something about how much we're
all shopping online these days.
I mean, people are clearlycomfortable buying a lot more
online.
Makes you wonder why, though?
Speaker 1 (01:25):
I think part of it's got to be convenience, but maybe
people also feel like they canfind better deals online, or
maybe they just want to avoidthe crowds, you know.
Speaker 2 (01:34):
Yeah, it's probably a mix of all those things, but
get this.
Adobe found that onlinespending peaked between 10 am
and 2 km Eastern time on BlackFriday.
Speaker 1 (01:42):
Wow am and two commuters Eastern Time on Black
Friday.
Wow, so people are shopping ontheir lunch breaks.
Speaker 2 (01:46):
Maybe, or maybe it's just the super organized
shoppers who are up early andgrabbing those deals Makes sense
.
But no matter how you slice it,online shopping was the clear
winner this year.
Oh for sure, Salesforce andAdobe both reported some pretty
significant online sales growth7% for Salesforce and 10.2% for
Adobe.
Speaker 1 (02:04):
That's huge.
Yes, and get this.
Adobe also announced thatonline Black Friday sales
crossed the $10 billion mark forthe first time ever.
Speaker 2 (02:13):
Yeah, that's a big deal.
And one of their analysts,vivek Pandya.
He actually said that BlackFriday is becoming increasingly
digital.
Speaker 1 (02:20):
I mean, I can barely even remember when Black Friday
was mostly an in-store thing.
Speaker 2 (02:24):
Yeah, me too.
Speaker 1 (02:25):
I think things like mobile shopping and AI tools are
really changing the game.
Speaker 2 (02:30):
Speaking of AI, it's crazy to think that it drove
over $14 billion in globalonline sales just on Black
Friday.
Speaker 1 (02:38):
It's amazing how much influence AI has in retail
these days.
Salesforce found that retailerswho were using generative AI
you know the kind of AI that cancreate things like product
descriptions those retailers hada 9% higher conversion rate.
Speaker 2 (02:52):
So they're basically getting a 9% boost just from
using AI.
Speaker 1 (02:55):
Pretty much, yeah, and someone from Salesforce,
Kyla Schwartz, I think her namewas.
She called it a game changerfor retailers, especially for
the ones who are really focusedon their profit margins.
Speaker 2 (03:04):
And don't forget about chatbots.
Adobe saw a huge increase inpeople using chatbots on retail
websites.
They're using them to finddeals and track down specific
items, even to get brandrecommendations.
Speaker 1 (03:17):
It's kind of like having a personal shopper right
in your browser.
Speaker 2 (03:19):
Exactly.
Speaker 1 (03:20):
So let's talk about something that really surprised
me Toys.
Remember how the toy industrywas struggling last year.
Speaker 2 (03:26):
Yeah, sales were down like 8%.
Speaker 1 (03:28):
But get this.
Adobe's data shows that onlinetoy sales on Black Friday were
up 622% compared to a typicalday in October.
Speaker 2 (03:37):
Wow 622%.
Speaker 1 (03:40):
That's insane.
Speaker 2 (03:40):
What were the big sellers?
Speaker 1 (03:42):
Well, harry Potter Lido sets were a big hit, same
with all the stuff from theWicked movie and, of course, all
the classic games and toys,disney princesses, all that.
Apparently, this cookies-makeryoven playset was super popular
too.
Speaker 2 (03:52):
So I guess kids still love their toys, even in the
digital age.
But what about in-storeshopping?
Were the malls totally empty?
Speaker 1 (03:59):
Not totally, but there was definitely a drop in
foot traffic.
Mall of America had somethinglike 13,000 shoppers in the
first hour, which is prettyimpressive, but Retail Next
reported that overall storetraffic was down 3.2% on Black
Friday Interesting andMasterCard's data kind of backs
that up.
Speaker 2 (04:20):
They said online sales were up 14.6%, but
in-store sales only went up 0.7%.
Yeah, it seems like more andmore people are just choosing to
shop online.
It's just so much easier andmore convenient for a lot of
people.
Speaker 1 (04:26):
And speaking of convenience, let's talk about
all the crazy discounts we sawthis year.
It felt like everything is onsale.
Speaker 2 (04:32):
Oh yeah, Especially the things that have been hit
hard by inflation and all thosebig ticket items.
Speaker 1 (04:38):
Right.
Adobe found that discountsexceeded expectations in
categories like toys,electronics, TVs, apparel,
computers, sporting goods.
Why do you think retailers wereso aggressive with their
pricing?
Speaker 2 (04:52):
Well, one theory is that they're trying to get rid
of inventory before thosetariffs kick in.
Speaker 1 (04:55):
That makes sense.
Plus, I think people are justlooking for deals more than ever
.
Speaker 2 (04:58):
Yeah, joe Shastien from Retail Next called it
inflation fatigue People justwant to get the most bang for
their buck Totally.
Speaker 1 (05:05):
And here's another thing that caught my eye Online
sales on Thanksgiving Day hit$6.1 billion.
That's up 8.8% from last year.
It's starting to feel likeBlack Friday isn't just one day
anymore.
It's more like a whole week ofdeals and promotions.
Speaker 2 (05:21):
Yeah, the lines are definitely getting blurred.
Speaker 1 (05:23):
And Nora Klein-Willinghofer from Kearney.
She said it perfectly.
She said that the frenziedin-person rush of Black Friday
is becoming more of a digitalfirst experience.
Speaker 2 (05:35):
That's a great way to put it.
So is Black Friday losing itsappeal, or is it just changing
into something different?
Speaker 1 (05:41):
I don't know, but it's definitely fascinating to
watch it all unfold.
Yeah, yeah, it really makes youthink about how retailers are
adapting to all of this.
I mean, it can't be easy forthem to keep up with all these
changes oh, absolutely.
Speaker 2 (05:53):
There's definitely a lot of pressure on them to keep
evolving.
I mean they can't just rely onthat one crazy day of in-store
sales anymore.
It's all about being online,having really competitive deals
and reaching shoppers whereverthey are.
Social media apps, email, youname it.
Speaker 1 (06:08):
So it's kind of like a constant juggling act for them
.
Speaker 2 (06:10):
Pretty much, and technology is a huge part of it.
They need to be using, you know, sophisticated e-commerce
platforms, ai poweredpoweredchatbots, personalized
recommendations.
It's a lot to keep up with.
Speaker 1 (06:22):
It sounds exhausting, honestly, but I guess what I'm
wondering is is this wholeevolution of Black Friday
actually a good thing forshoppers?
Speaker 2 (06:30):
Well, I think it definitely has its advantages.
For one thing, you've got waymore choices now and it's so
much more convenient.
Plus, you can often find betterdeals online because there's
more competition and you don'thave to deal with the crowds and
the lines.
You can just shop from home inyour PJs.
Speaker 1 (06:45):
I'm all for shopping in my PJs.
But you know there's a part ofme that kind of misses the old
Black Friday, Like that wholethrill of getting up early and
finding those doorbuster deals.
It was an experience.
Speaker 2 (06:57):
I get that there's definitely a certain nostalgia
for the traditional Black Friday, but I think some of that
excitement still exists online.
It's just different.
Well, think about it.
There's still that anticipationof waiting for a flash sale to
start, or the rush of snagging alimited edition item before it
sells out.
It's still a game, just withdifferent rules.
Speaker 1 (07:16):
Yeah, I see what you mean, but it feels like you need
to be a much savvier shopperthese days.
Speaker 2 (07:21):
Definitely You've got to do your research, compare
prices and be really carefulabout scams and misleading deals
.
It's easy to get caught up inthe frenzy and make impulse
purchases.
Speaker 1 (07:33):
Especially with all those targeted ads.
They're so good at knowing whatyou want.
Speaker 2 (07:36):
Oh yeah, the algorithms are pretty
sophisticated these days.
Speaker 1 (07:40):
It's kind of creepy sometimes.
Speaker 2 (07:41):
But it's all part of the game, as long as you're
aware of it and you're makingconscious decisions.
Speaker 1 (07:46):
Speaking of conscious decisions, what about the
environmental impact of all thisonline shopping?
It seems like there are morepackages being shipped, more
returns being processed.
Speaker 2 (07:56):
That's a really important point.
There's definitely a concernabout sustainability with all
this online shopping, all thosedelivery trucks on the road, the
packaging waste.
It's something we need to thinkabout.
Speaker 1 (08:05):
It feels like a bit of a dilemma.
We love the convenience ofonline shopping, but we also
care about the planet.
Speaker 2 (08:12):
I agree.
It's a challenge for sure, butI think both retailers and
consumers have a role to play inmaking things more sustainable.
Speaker 1 (08:19):
So what can retailers do?
Speaker 2 (08:21):
Well, they can start by using more eco-friendly
packaging, like recycledmaterials or just less packaging
.
Overall, they can also optimizetheir shipping routes to be
more fuel efficient and, maybemost importantly, they can
encourage people to buy less butbuy better.
Speaker 1 (08:36):
That makes sense.
But what about us as shoppers?
What can we do to be moresustainable?
People to buy less but buybetter.
That makes sense.
But what about us as shoppers?
What can we do to be moresustainable?
Speaker 2 (08:41):
I think the key is to really think before you buy.
Ask yourself if you really needsomething or if there's a more
sustainable option.
Speaker 1 (08:49):
So it's about being more mindful.
Speaker 2 (08:51):
Exactly and supporting brands that are
committed to sustainability.
Speaker 1 (08:54):
Right, because our choices do matter.
Speaker 2 (08:56):
Absolutely, and I think there's growing awareness
about these issues, more andmore people.
Speaker 1 (09:02):
That's good to hear Shows that we can make a
difference.
So we've talked about thepressures on retailers, the
changing consumer experience andthe sustainability implications
of all this.
What do you think is thebiggest takeaway from all of
this?
Speaker 2 (09:16):
I think the main thing is that Black Friday is
constantly changing.
It's not just a single dayanymore, it's this whole dynamic
, multifaceted event that'sbeing shaped by so many factors
Technology, economics, consumerbehavior and it's all happening
so fast.
Speaker 1 (09:31):
It's pretty amazing to watch, but it also makes me
wonder what's next?
What's the future of BlackFriday?
Speaker 2 (09:38):
Yeah, I mean it's crazy to think how much it's
already changed, but it feelslike we're just getting started.
What do you think Black Fridaywill look like in like five or
10 years?
Speaker 1 (09:46):
If we just look at what's happening now, I think
technology is going to be evenmore important.
E-commerce, AI, mobile shopping, all that stuff is just going
to keep growing.
Speaker 2 (09:55):
So are we talking about a future where Black
Friday is basically all online?
No more lines, no more crowds,just everyone shopping from home
?
It could definitely go that way.
Imagine Black Friday in virtualreality.
You could try on clothes, seehow a new sofa would look in
your living room, all withoutleaving your house.
Speaker 1 (10:13):
I mean that sounds super convenient, but wouldn't
that kind of take the fun out ofit?
You know, like part of theBlack Friday experience is that
energy you get from being aroundother people.
Everyone's excited, they'relooking for deals.
Speaker 2 (10:25):
Yeah, I get that.
I don't think stores are goingto disappear completely, but I
think their role might change.
Maybe they'll become more aboutthe experience, showcasing
products, offering personalizedservice, creating a sense of
community.
Speaker 1 (10:38):
So more about the experience than just buying
stuff.
Speaker 2 (10:40):
Exactly.
Think like interactive displays, personal shoppers, maybe even
in-store events.
Speaker 1 (10:45):
Yeah, I can see that, and I bet personalization is
going to be huge too.
Speaker 2 (10:49):
Oh, definitely.
As retailers learn more aboutour shopping habits, they can
give us even more personalizeddeals and recommendations.
Speaker 1 (10:56):
So you could open your email on Black Friday
Monday and have a whole list ofdeals just for you.
Speaker 2 (11:02):
Yeah, based on what you've bought before, what
you've looked at online, evenyour social media activity.
Speaker 1 (11:08):
Wow, that's amazing and kind of scary.
But speaking of social media,do you think we'll start seeing
Black Friday deals popping up onour feeds?
Speaker 2 (11:17):
I think it's definitely possible.
You could be scrolling throughInstagram and boom, there's a
flash sale for something you'vebeen wanting.
Speaker 1 (11:22):
That's dangerous, so let's talk about sustainability.
With online shopping growing somuch, how do we make Black
Friday more eco-friendly?
Speaker 2 (11:32):
I think sustainability is only going to
become more important, both forconsumers and retailers.
We might see a lot moreeco-friendly packaging, carbon
neutral shipping and maybe evena bigger emphasis on buying less
stuff but higher quality stuff.
Speaker 1 (11:46):
So Black Friday could become less about just getting
a good deal and more aboutmaking responsible choices.
Speaker 2 (11:52):
Exactly, and we might even see some totally new
models emerge, like circulareconomy initiatives where
products are designed to bereused, or maybe even a
resurgence of Buy Nothing Day,where people choose not to shop
at all.
Speaker 1 (12:04):
So maybe the future of Black Friday isn't just about
how we shop, but also about whywe shop and what's important to
us.
Speaker 2 (12:11):
I think that's a really good way to put it.
Black Friday is kind of amirror of our society.
It reflects our values, ourpriorities.
Speaker 1 (12:17):
That's deep.
So what does all this mean forus as shoppers?
What should we be keeping inmind as Black Friday keeps
changing?
Speaker 2 (12:23):
I think the most important thing is to be aware,
Do your research, compare pricesand think about the impact of
your purchases.
Speaker 1 (12:30):
Great advice and maybe, just maybe, we can all
help shape the future of BlackFriday, make it a more
sustainable and meaningfulexperience.
Well, that's about all the timewe have for today.
Thanks for joining us for thisdeep dive into Black Friday 2024
.
Speaker 2 (12:45):
It's been a really interesting conversation.
Speaker 1 (12:47):
We've covered a lot of ground, from the latest
trends and data to the future ofretail and, most importantly,
we've talked about how we canall be more conscious consumers.
As we head into the holidayseason and beyond, let's all try
to make choices that reflectour values and create a better
world for everyone.
Speaker 2 (13:05):
Thanks again for listening and happy shopping.
Hey everyone, welcome to your deep dive on Black
Friday 2024.
We're going to be breaking downthis retail dive article
Winners and Losers of BlackFriday 2024.
And you know really, just kindof seeing what it tells us about
where retail is at right now.
I mean, is Black Friday even athing anymore?
You don't really see peoplecamping out in front of stores
like they used to.
Speaker 2 (00:20):
Yeah, it's interesting to see how it's all
playing out, especially, youknow, with the economy the way
it is.
Inflation's still stickingaround, there's all this talk
about new tariffs, and I think alot of people are just being
careful with how they spendtheir money.
Speaker 1 (00:32):
Yeah, for sure.
Even Nordstrom is seeing like aslowdown in their sales.
It kind of feels likeeveryone's just holding their
breath a little.
Speaker 2 (00:38):
Absolutely.
And speaking of uncertainty,MasterCard's data shows that
retail sales overall in the USwere up 3.4 percent compared to
last year.
But here's the thing thatnumber doesn't account for
inflation.
Speaker 1 (00:51):
OK, so let me get this straight Sales are up, but
inflation is eating away ateveryone's budget.
So is it really growth?
Speaker 2 (00:58):
Well, that's the million dollar question, isn't
it?
Speaker 1 (01:00):
Yeah, I mean, it's like getting a raise, but then
your rent goes up even more.
Speaker 2 (01:03):
Right, not exactly something to celebrate.
Speaker 1 (01:11):
No, not really, but here's where things get
interesting.
Block, the company behindSquare.
They found that people's onlineshopping carts were twice the
size of in-store carts.
Speaker 2 (01:17):
Hmm, that really says something about how much we're
all shopping online these days.
I mean, people are clearlycomfortable buying a lot more
online.
Makes you wonder why, though?
Speaker 1 (01:25):
I think part of it's got to be convenience, but maybe
people also feel like they canfind better deals online, or
maybe they just want to avoidthe crowds, you know.
Speaker 2 (01:34):
Yeah, it's probably a mix of all those things, but
get this.
Adobe found that onlinespending peaked between 10 am
and 2 km Eastern time on BlackFriday.
Speaker 1 (01:42):
Wow am and two commuters Eastern Time on Black
Friday.
Wow, so people are shopping ontheir lunch breaks.
Speaker 2 (01:46):
Maybe, or maybe it's just the super organized
shoppers who are up early andgrabbing those deals Makes sense
.
But no matter how you slice it,online shopping was the clear
winner this year.
Oh for sure, Salesforce andAdobe both reported some pretty
significant online sales growth7% for Salesforce and 10.2% for
Adobe.
Speaker 1 (02:04):
That's huge.
Yes, and get this.
Adobe also announced thatonline Black Friday sales
crossed the $10 billion mark forthe first time ever.
Speaker 2 (02:13):
Yeah, that's a big deal.
And one of their analysts,vivek Pandya.
He actually said that BlackFriday is becoming increasingly
digital.
Speaker 1 (02:20):
I mean, I can barely even remember when Black Friday
was mostly an in-store thing.
Speaker 2 (02:24):
Yeah, me too.
Speaker 1 (02:25):
I think things like mobile shopping and AI tools are
really changing the game.
Speaker 2 (02:30):
Speaking of AI, it's crazy to think that it drove
over $14 billion in globalonline sales just on Black
Friday.
Speaker 1 (02:38):
It's amazing how much influence AI has in retail
these days.
Salesforce found that retailerswho were using generative AI
you know the kind of AI that cancreate things like product
descriptions those retailers hada 9% higher conversion rate.
Speaker 2 (02:52):
So they're basically getting a 9% boost just from
using AI.
Speaker 1 (02:55):
Pretty much, yeah, and someone from Salesforce,
Kyla Schwartz, I think her namewas.
She called it a game changerfor retailers, especially for
the ones who are really focusedon their profit margins.
Speaker 2 (03:04):
And don't forget about chatbots.
Adobe saw a huge increase inpeople using chatbots on retail
websites.
They're using them to finddeals and track down specific
items, even to get brandrecommendations.
Speaker 1 (03:17):
It's kind of like having a personal shopper right
in your browser.
Speaker 2 (03:19):
Exactly.
Speaker 1 (03:20):
So let's talk about something that really surprised
me Toys.
Remember how the toy industrywas struggling last year.
Speaker 2 (03:26):
Yeah, sales were down like 8%.
Speaker 1 (03:28):
But get this.
Adobe's data shows that onlinetoy sales on Black Friday were
up 622% compared to a typicalday in October.
Speaker 2 (03:37):
Wow 622%.
Speaker 1 (03:40):
That's insane.
Speaker 2 (03:40):
What were the big sellers?
Speaker 1 (03:42):
Well, harry Potter Lido sets were a big hit, same
with all the stuff from theWicked movie and, of course, all
the classic games and toys,disney princesses, all that.
Apparently, this cookies-makeryoven playset was super popular
too.
Speaker 2 (03:52):
So I guess kids still love their toys, even in the
digital age.
But what about in-storeshopping?
Were the malls totally empty?
Speaker 1 (03:59):
Not totally, but there was definitely a drop in
foot traffic.
Mall of America had somethinglike 13,000 shoppers in the
first hour, which is prettyimpressive, but Retail Next
reported that overall storetraffic was down 3.2% on Black
Friday Interesting andMasterCard's data kind of backs
that up.
Speaker 2 (04:20):
They said online sales were up 14.6%, but
in-store sales only went up 0.7%.
Yeah, it seems like more andmore people are just choosing to
shop online.
It's just so much easier andmore convenient for a lot of
people.
Speaker 1 (04:26):
And speaking of convenience, let's talk about
all the crazy discounts we sawthis year.
It felt like everything is onsale.
Speaker 2 (04:32):
Oh yeah, Especially the things that have been hit
hard by inflation and all thosebig ticket items.
Speaker 1 (04:38):
Right.
Adobe found that discountsexceeded expectations in
categories like toys,electronics, TVs, apparel,
computers, sporting goods.
Why do you think retailers wereso aggressive with their
pricing?
Speaker 2 (04:52):
Well, one theory is that they're trying to get rid
of inventory before thosetariffs kick in.
Speaker 1 (04:55):
That makes sense.
Plus, I think people are justlooking for deals more than ever
.
Speaker 2 (04:58):
Yeah, joe Shastien from Retail Next called it
inflation fatigue People justwant to get the most bang for
their buck Totally.
Speaker 1 (05:05):
And here's another thing that caught my eye Online
sales on Thanksgiving Day hit$6.1 billion.
That's up 8.8% from last year.
It's starting to feel likeBlack Friday isn't just one day
anymore.
It's more like a whole week ofdeals and promotions.
Speaker 2 (05:21):
Yeah, the lines are definitely getting blurred.
Speaker 1 (05:23):
And Nora Klein-Willinghofer from Kearney.
She said it perfectly.
She said that the frenziedin-person rush of Black Friday
is becoming more of a digitalfirst experience.
Speaker 2 (05:35):
That's a great way to put it.
So is Black Friday losing itsappeal, or is it just changing
into something different?
Speaker 1 (05:41):
I don't know, but it's definitely fascinating to
watch it all unfold.
Yeah, yeah, it really makes youthink about how retailers are
adapting to all of this.
I mean, it can't be easy forthem to keep up with all these
changes oh, absolutely.
Speaker 2 (05:53):
There's definitely a lot of pressure on them to keep
evolving.
I mean they can't just rely onthat one crazy day of in-store
sales anymore.
It's all about being online,having really competitive deals
and reaching shoppers whereverthey are.
Social media apps, email, youname it.
Speaker 1 (06:08):
So it's kind of like a constant juggling act for them
.
Speaker 2 (06:10):
Pretty much, and technology is a huge part of it.
They need to be using, you know, sophisticated e-commerce
platforms, ai poweredpoweredchatbots, personalized
recommendations.
It's a lot to keep up with.
Speaker 1 (06:22):
It sounds exhausting, honestly, but I guess what I'm
wondering is is this wholeevolution of Black Friday
actually a good thing forshoppers?
Speaker 2 (06:30):
Well, I think it definitely has its advantages.
For one thing, you've got waymore choices now and it's so
much more convenient.
Plus, you can often find betterdeals online because there's
more competition and you don'thave to deal with the crowds and
the lines.
You can just shop from home inyour PJs.
Speaker 1 (06:45):
I'm all for shopping in my PJs.
But you know there's a part ofme that kind of misses the old
Black Friday, Like that wholethrill of getting up early and
finding those doorbuster deals.
It was an experience.
Speaker 2 (06:57):
I get that there's definitely a certain nostalgia
for the traditional Black Friday, but I think some of that
excitement still exists online.
It's just different.
Well, think about it.
There's still that anticipationof waiting for a flash sale to
start, or the rush of snagging alimited edition item before it
sells out.
It's still a game, just withdifferent rules.
Speaker 1 (07:16):
Yeah, I see what you mean, but it feels like you need
to be a much savvier shopperthese days.
Speaker 2 (07:21):
Definitely You've got to do your research, compare
prices and be really carefulabout scams and misleading deals
.
It's easy to get caught up inthe frenzy and make impulse
purchases.
Speaker 1 (07:33):
Especially with all those targeted ads.
They're so good at knowing whatyou want.
Speaker 2 (07:36):
Oh yeah, the algorithms are pretty
sophisticated these days.
Speaker 1 (07:40):
It's kind of creepy sometimes.
Speaker 2 (07:41):
But it's all part of the game, as long as you're
aware of it and you're makingconscious decisions.
Speaker 1 (07:46):
Speaking of conscious decisions, what about the
environmental impact of all thisonline shopping?
It seems like there are morepackages being shipped, more
returns being processed.
Speaker 2 (07:56):
That's a really important point.
There's definitely a concernabout sustainability with all
this online shopping, all thosedelivery trucks on the road, the
packaging waste.
It's something we need to thinkabout.
Speaker 1 (08:05):
It feels like a bit of a dilemma.
We love the convenience ofonline shopping, but we also
care about the planet.
Speaker 2 (08:12):
I agree.
It's a challenge for sure, butI think both retailers and
consumers have a role to play inmaking things more sustainable.
Speaker 1 (08:19):
So what can retailers do?
Speaker 2 (08:21):
Well, they can start by using more eco-friendly
packaging, like recycledmaterials or just less packaging
.
Overall, they can also optimizetheir shipping routes to be
more fuel efficient and, maybemost importantly, they can
encourage people to buy less butbuy better.
Speaker 1 (08:36):
That makes sense.
But what about us as shoppers?
What can we do to be moresustainable?
People to buy less but buybetter.
That makes sense.
But what about us as shoppers?
What can we do to be moresustainable?
Speaker 2 (08:41):
I think the key is to really think before you buy.
Ask yourself if you really needsomething or if there's a more
sustainable option.
Speaker 1 (08:49):
So it's about being more mindful.
Speaker 2 (08:51):
Exactly and supporting brands that are
committed to sustainability.
Speaker 1 (08:54):
Right, because our choices do matter.
Speaker 2 (08:56):
Absolutely, and I think there's growing awareness
about these issues, more andmore people.
Speaker 1 (09:02):
That's good to hear Shows that we can make a
difference.
So we've talked about thepressures on retailers, the
changing consumer experience andthe sustainability implications
of all this.
What do you think is thebiggest takeaway from all of
this?
Speaker 2 (09:16):
I think the main thing is that Black Friday is
constantly changing.
It's not just a single dayanymore, it's this whole dynamic
, multifaceted event that'sbeing shaped by so many factors
Technology, economics, consumerbehavior and it's all happening
so fast.
Speaker 1 (09:31):
It's pretty amazing to watch, but it also makes me
wonder what's next?
What's the future of BlackFriday?
Speaker 2 (09:38):
Yeah, I mean it's crazy to think how much it's
already changed, but it feelslike we're just getting started.
What do you think Black Fridaywill look like in like five or
10 years?
Speaker 1 (09:46):
If we just look at what's happening now, I think
technology is going to be evenmore important.
E-commerce, AI, mobile shopping, all that stuff is just going
to keep growing.
Speaker 2 (09:55):
So are we talking about a future where Black
Friday is basically all online?
No more lines, no more crowds,just everyone shopping from home
?
It could definitely go that way.
Imagine Black Friday in virtualreality.
You could try on clothes, seehow a new sofa would look in
your living room, all withoutleaving your house.
Speaker 1 (10:13):
I mean that sounds super convenient, but wouldn't
that kind of take the fun out ofit?
You know, like part of theBlack Friday experience is that
energy you get from being aroundother people.
Everyone's excited, they'relooking for deals.
Speaker 2 (10:25):
Yeah, I get that.
I don't think stores are goingto disappear completely, but I
think their role might change.
Maybe they'll become more aboutthe experience, showcasing
products, offering personalizedservice, creating a sense of
community.
Speaker 1 (10:38):
So more about the experience than just buying
stuff.
Speaker 2 (10:40):
Exactly.
Think like interactive displays, personal shoppers, maybe even
in-store events.
Speaker 1 (10:45):
Yeah, I can see that, and I bet personalization is
going to be huge too.
Speaker 2 (10:49):
Oh, definitely.
As retailers learn more aboutour shopping habits, they can
give us even more personalizeddeals and recommendations.
Speaker 1 (10:56):
So you could open your email on Black Friday
Monday and have a whole list ofdeals just for you.
Speaker 2 (11:02):
Yeah, based on what you've bought before, what
you've looked at online, evenyour social media activity.
Speaker 1 (11:08):
Wow, that's amazing and kind of scary.
But speaking of social media,do you think we'll start seeing
Black Friday deals popping up onour feeds?
Speaker 2 (11:17):
I think it's definitely possible.
You could be scrolling throughInstagram and boom, there's a
flash sale for something you'vebeen wanting.
Speaker 1 (11:22):
That's dangerous, so let's talk about sustainability.
With online shopping growing somuch, how do we make Black
Friday more eco-friendly?
Speaker 2 (11:32):
I think sustainability is only going to
become more important, both forconsumers and retailers.
We might see a lot moreeco-friendly packaging, carbon
neutral shipping and maybe evena bigger emphasis on buying less
stuff but higher quality stuff.
Speaker 1 (11:46):
So Black Friday could become less about just getting
a good deal and more aboutmaking responsible choices.
Speaker 2 (11:52):
Exactly, and we might even see some totally new
models emerge, like circulareconomy initiatives where
products are designed to bereused, or maybe even a
resurgence of Buy Nothing Day,where people choose not to shop
at all.
Speaker 1 (12:04):
So maybe the future of Black Friday isn't just about
how we shop, but also about whywe shop and what's important to
us.
Speaker 2 (12:11):
I think that's a really good way to put it.
Black Friday is kind of amirror of our society.
It reflects our values, ourpriorities.
Speaker 1 (12:17):
That's deep.
So what does all this mean forus as shoppers?
What should we be keeping inmind as Black Friday keeps
changing?
Speaker 2 (12:23):
I think the most important thing is to be aware,
Do your research, compare pricesand think about the impact of
your purchases.
Speaker 1 (12:30):
Great advice and maybe, just maybe, we can all
help shape the future of BlackFriday, make it a more
sustainable and meaningfulexperience.
Well, that's about all the timewe have for today.
Thanks for joining us for thisdeep dive into Black Friday 2024
.
Speaker 2 (12:45):
It's been a really interesting conversation.
Speaker 1 (12:47):
We've covered a lot of ground, from the latest
trends and data to the future ofretail and, most importantly,
we've talked about how we canall be more conscious consumers.
As we head into the holidayseason and beyond, let's all try
to make choices that reflectour values and create a better
world for everyone.
Speaker 2 (13:05):
Thanks again for listening and happy shopping.
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