Black Friday Sale Market Worth US$ 1,123.9 Billion by 2032, Says Future Market Insights Inc

The global Black Friday sale market net worth is estimated to be around US$ 273.1 Billion in 2022 and is anticipated to expand at a CAGR of 15.2% from 2022 to 2032. The growing popularity of this festive event beyond the United States is expected to drive the market up to US$ 1,123.9 Billion by 2032.

Black Friday now marks the beginning of a long sale that lasts until Cyber Monday, and it is no longer just a one-day shopping spree. This has solidified itself as a fixture of retail calendars all around the world, significantly altering how consumers purchase in the run-up to Christmas and New Year celebrations.

The global market for Black Friday sales has changed over the past decade due to a rise in instant internet buying, a decline in purchasing at public outlets following the pandemic years, and a widespread awareness that not all bargains are as amazing as they seem. Customers' reluctance to enter crowded stores, in particular, presents a huge limitation for businesses that supply goods and merchandise according to those of their target market expectations.

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The overall sales fell just short of the previous record in 2020 at $8.9 billion. Some speculate that this was due to the pandemic's lasting effects of out-of-stock products, extended shipping times, etc., as well as earlier online sales that may have taken some of the steam. Global, as well as regional retailers aiming to make a fortune out of Black Friday sale events, must deal with these quick-changing adjustments if they want to fully benefit from the shopping season.

Key Takeaways from the Black Friday Sale Market Study

Based on product type, clothing goods are figured out to be the dominating segment contributing to almost 51% of the sales, followed by consumer appliances contributing nearly 24%.
According to consumer orientation, market players mostly target the Gen-Z buyer segment, which is responsible for approximately 48% of the overall sales achieved globally. While millennial buyers also make up a substantial part of the market by contributing a market share of 28%.
In the end-user category of the market report, men were found to be the major buyers during the Black Friday sale event, with overall sales of this segment amounting up to 48% of the overall sales.
On the basis of sales channels, online sales are presently the prominent mode for Black Friday deals. This segment has exhibited constant growth over the past few years against in-store distribution channels and will capture almost 69% of the market share in 2022.

Competitive Landscape for the Black Friday Sale Market

Amazon, Walmart, Target, Macy's, Best Buy, Puma, John Lewis, Luxe Strap, New Egg, eBay, Apple, H&M, Zara, Go Daddy, Adidas, and Big Rock among others are some of the major players in the global Black Friday sale market.

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Key Segments

By Product Type:

Clothing
Footwear
Beauty & Personal Care
Consumer Electronics
Consumer Appliances
Accessories
Books
Toys & Games
Jewellery
Gift Cards
Others

By Consumer Orientation:

Baby Boomers
Millennials
Gen-Z
Gen-X
Others

By End User:

Men
Women
Kids

By Sales Channel:

In-store
Online Sales

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa (MEA)

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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

This release was published on openPR.