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Black Friday 2024 Recap

Black Friday 2024 was a significant event in the retail landscape, demonstrating the continued evolution of consumer shopping habits. Online sales reached new heights, with U.S. shoppers spending a record $10.8 billion, a 10.2% increase from the previous year. Globally, the 24-hour spending spree hit $74.4 billion, marking a 5% rise. This surge in online activity indicates a growing preference for the convenience of e-commerce during the Black Friday period. Mobile devices played an increasingly crucial role, with a large percentage of online purchases being made on smartphones and tablets. Furthermore, "Buy Now, Pay Later" options continued to gain traction, influencing how consumers approached their holiday spending.

Several key trends defined Black Friday 2024. Firstly, the importance of early engagement became evident, as search interest for Black Friday deals started to rise as early as September. Retailers who capitalized on this early momentum by launching promotions ahead of time saw positive results. Secondly, artificial intelligence played a more prominent role in campaign management, with retailers utilizing AI tools to streamline their digital advertising efforts, leading to significant revenue uplifts for some. Lastly, while online shopping dominated, physical stores still held significance, especially for retailers who created engaging in-store experiences with exclusive deals. The top-selling categories included toys and games, apparel and accessories, and electronics, with many shoppers looking for substantial discounts across various product types.