Introduction

Black Friday, the day synonymous with unprecedented discounts and overwhelming shopping frenzy, has undergone a remarkable evolution since its humble origins. This annual shopping tradition, originally exclusive to the United States, has spread worldwide and become a global phenomenon.

In this article, we will delve into the evolution Black Friday has experienced, discussing relevant data or trends for each year.

1. What is Black Friday?

The term "Black Friday" emerged in the 1960s in Philadelphia, United States, referring to the hectic traffic day after Thanksgiving. Retailers noticed crowded streets and gridlocked traffic. However, it wasn't until the 1980s that the term took on a different meaning when retailers began using it to signify the moment they turned a profit, or "got out of the red" (loss) and "into the black" (profit).

It's interesting to note that the day is celebrated on the fourth Thursday of November. As a result, on Friday, most employees in the United States have the day off, providing ample time for widespread shopping.

2. The evolution of Black Friday

Early Years VS Now: How has Black Friday Evolved?

What started as a single day of discounts has evolved into a full-fledged shopping weekend. Over the decades, the deals have become increasingly extreme, with retailers opening their doors earlier and offering online discounts. The rise of e-commerce has expanded Black Friday into an online shopping extravaganza, allowing consumers worldwide to benefit from discounts without leaving their homes.

While Black Friday began as an American tradition, the phenomenon has spread like wildfire worldwide. Countries outside the US have embraced the trend, and now, retailers everywhere compete with enticing discounts and special offers. Even in countries where Thanksgiving is not celebrated, Black Friday has become a staple on the retail calendar.

The rise of online shopping on Black Friday

Looking back at the rise of online shopping, starting around 1995 with the development of online stores, major players like eBay and Amazon emerged. In recent years, the trend of home-delivered packages has skyrocketed. 

In the Netherlands alone, over 611 million packages were delivered last year, a significant increase of 70% compared to 2018. Combine this package trend with hefty online discounts on Black Friday, and it's easy to understand why companies like BPost and Postnl are so busy.

The Counter-Movement: Green Friday as an Anti-Black Friday

Due to the evolved tradition and the substantial profits that multinational corporations can make on this day, Black Friday has surged in popularity. Larger companies can often afford to offer massive discounts, while smaller businesses may not. In 2017, Green Friday was introduced as a form of protest against the excessive consumption associated with Black Friday.‍

3. An annual data analysis of Black Friday for different brands

2023: Analysing difference in visit for fashion brands: Comparing Black Friday weekends to the month before 

Fashion brands

Fashion brands generally perform well during the Black Friday weekend. Key take-aways include:

• Almost every fashion brand attracts more visitors during the Black Friday weekend, considering only physical visits without accounting for online visits.
• Only CKS, Paprika, and Cassis performed below their usual standards.

Electro brands

Electro brands are known to peak during the Black Friday weekend, however some brands managed to perform below their usual standards..

• Only Exellent performed below, with 26,43% fewer visits.
• Media Markt notably stood out once again with 121% more visitors than usual, showcasing strong performance

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During the Black Friday weekend, most electro brands saw an increase in physical visits compared to the month before, with an average growth of 40.82%.

Difference in visits: Black Friday weekend 2022 VS Black Friday weekend 2023

When comparing Black Friday in 2022 and 2023, we observe a totally different pattern:

Fashion brands

• On average, fashion brands generally performed worse than the previous year, with -6.24% fewer visits this year.
• This may be explained by the possibility that more shopping is happening online rather than in physical stores.

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Electro brands

When comparing Black Friday in 2022 and 2023, we observe a less significant average growth

• There was an overall increase in visits for electro brands in 2023, with a 14.77% growth on average.
• Exellent had 51.04% more visits on Black Friday 2023 compared to 2022, despite performing below the month before.
• Expert outperformed their competition with a growth of almost 80% compared to last year
• However, Vanden Borre, Krëfel, Eldi & Selexion experienced a decrease in in-store visits during Black Friday 2023 compared to 2022, possibly influenced by the rise in online shopping.
• Media Markt only acquired 0.27% more physical visits on black friday compared to black friday 2022.

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On average, these electro brands generally performed better in 2023 compared to the year before, with 14,77% increase in visits. However, some of these brands need to reconsider their strategies to improve in 2024.

2022: Media Markt as the Big Winner

While in 2022, other retailers like Dille & Kamille closed their doors as a statement (referencing Green Friday and sustainability), many Belgians braved the autumn chill for the best electronic deals. Media Market emerged as the big winner. For more information, check out last year's analysis!

In 2023, Media Market was not able to beat last year's home run. But taking into account how great last year was, these numbers are rather hard to beat...

4. Critique of Consumerism and Excessive Consumption

With the exponential growth of Black Friday, criticism and calls for change have increased. Concerns about the negative environmental impact of excessive consumption and chaotic scenes in physical stores have led to a reconsideration within the retail world. Some retailers respond proactively by emphasizing sustainability and conscious consumption, while others choose not to participate in the Black Friday race at all.

The future of Black Friday remains fascinating and unpredictable. While some retailers adhere to the traditional shopping experience, there is a clear rise of 'Cyber Monday' and a shift towards online shopping. Moreover, some companies have extended the weekend with discounts valid throughout the week, suggesting that the concept of Black Friday continues to evolve.

These changes reflect not only the growing digitization but also a broader societal call for sustainability and a more balanced consumer experience. The coming years promise new shifts and innovations in the Black Friday landscape, as the retail sector continues to seek a balance between tradition and progress.

Conclusion

Black Friday, originally arising from a local tradition, has evolved into a global retail phenomenon. What started as a day of discounts after Thanksgiving is now an annual spectacle dominating the shopping world.

As criticism mounts and retailers adapt to changing consumer trends, Black Friday remains a remarkable phenomenon in the history of retail, promising an evolution that will unfold further in the coming years.