Why Black Friday Continues to Be a Buying Juggernaut in the USA

It’s the most wonderful time of the year! No, we’re not talking about Christmas. What we’re referring to is Black Friday. We’re not quite there yet but the anticipation is already building as we wait and see exactly what bargains we will be presented with this time around. That being said, we’ve already had a glimpse of what is to come.

Speaking to Betway Online Casino, retail expert Bob Phibbs says “The Walmarts and even Amazons launched their Black Friday deals back in October.” This means that Black Friday is no longer a singular day. More it is a time of year and one that remains hugely popular in the US.

How much we spend over Black Friday

Research from Betway Casino reveals that Black Friday 2020 saw an astonishing $58 billion being spent. That’s a lot of bargains that have been bagged, but where were the biggest spenders? It is the USA that ranks at number one with the average person spending $497. Canadians come in at a close second with a spend of $441 and the UK appear third with $407.

As you can see, there may not be a lot in it, but it is clear that the Americans are the biggest spenders over Black Friday. Given that the origins of Black Friday can be found in the US, it is perhaps unsurprising that this is where the biggest spending takes place.

How Thanksgiving signals the start of the festive period

In the USA, Thanksgiving marks the start of the beginning of the festive period. It is then that people really get into the spirit of all things Christmas. It is said that traditionally no Christmas shopping took place until the day after Thanksgiving. Shops and stores wouldn’t even make reference to Christmas until the day had passed. Black Friday saw a change here.

With Black Friday now becoming a period as opposed to a day, Americans are able to start their Christmas shopping earlier than they ever have before with the help of Amazon and eBay. Black Friday allows them to get into the spirit of things and enjoy that festive feeling.

What the retailers stand to gain

Of course, Black Friday is great news for shoppers in the US. They are able to buy the must-have gifts at knock-down prices and prepare for the perfect Christmas. What about the retailers though? Do they see any benefit from Black Friday or is it all about the shopper?

According to retail expert Bob Phibbs, retailers were seeing benefits some 30 plus years ago. In an interview with Betway Casino he states, “By the ‘80s, it was urban legend that it was the day retailers moved from reading losses to black ink profits.”. So yes, retailers in America benefit too. Of course, with lower profit margins they need to be selling in huge volumes. They easily achieve this by the buzz that surrounds all things Black Friday. While shoppers and retailers alike stand to benefit, Black Friday will just keep getting bigger and bigger.