Black Friday 2023: Retailers Brace for Record-Breaking Shopping Frenzy

Black Friday 2023, the much-anticipated shopping extravaganza, approaches on November 24, retailers worldwide are gearing up for what they hope will be another record-setting global shopping spree. Known for doorbuster discounts and enthusiastic crowds, Black Friday traditionally marks the unofficial start of the Christmas shopping season.

The term “Black Friday” originated in Philadelphia in the 1960s, referring to the chaos caused by an influx of shoppers before Thanksgiving weekend. Despite attempts to rebrand it as “Big Friday,” the name persisted, with retailers now associating it with the day their ledgers go “in the black,” signifying profitability.

Retail giants like Best Buy, Macy’s, H&M, Shein, and Temu are already enticing shoppers with early Black Friday deals of up to 30% off on select merchandise, both online and in stores. This strategic move aims to gauge shopper demand and mitigate potential product shortages caused by shipping challenges, including reduced traffic in the Panama Canal due to a severe drought.

While Black Friday crowds are a hallmark of the shopping spectacle, industry experts anticipate a shift in dynamics this year. Dana Telsey, CEO of Telsey Advisory Group, suggests that Black Friday’s significance may diminish slightly due to the proximity of Christmas to the weekend, allowing procrastinating shoppers to wait until the last minute.

Despite challenges such as labor shortages and concerns about product availability, the retail industry is poised for an eventful Black Friday, with early promotions already underway and a flurry of activity expected both in-store and online.