Black Friday explained: The history behind the name
Understanding Black Friday: What is it and how did it get its name
Shoppers are making their lists and checking them twice as they prepare for the arrival of Black Friday — one of the biggest shopping days of the year.
A record 183.4 million people are planning to shop in-store and online from Thanksgiving Day through Cyber Monday this year, according to the annual survey released by the National Retail Federation and Prosper Insights and Analytics.
And consumer spending is expected to reach a record $902 per person on average across gifts, food, decorations and other seasonal items.
The National Retail Federation forecast that winter holiday spending is expected to grow between 2.5% and 3.5% over 2023. That equates to between $979.5 billion and $989 billion in total holiday spending in November and December, compared with $955.6 billion during the same timeframe last year.
“Consumers are prioritizing gift-giving for the most important people in their lives, and retailers are prepared to help customers find everything on their shopping lists at great prices throughout the season,” Katherine Cullen, NRF vice president of industry and consumer insights, said in a news release.
For years, companies, like Consumer Reports, have been watching Black Friday deals and compile lists of shopping tips to help consumers find the best offers.
Earlier this month, CR posted on its website advice on how to get the best deals throughout the holiday season. Here’s a few of CR’s suggestions.
● Start early — Many retailers have already started Black Friday sales. Before you buy, make sure you know what the holiday refund and return policies. Be sure to save receipts.
● Use websites and apps to compare prices. Look for and track prices before Black Friday and Cyber Monday. The Consumer Reports website lists the current prices for various products along with ratings.
● Sign up for loyalty programs. Take advantage of store loyalty programs. Some offer members early access to coupons, sales and promotions. See if you can sign up for Black Friday shopping alerts.
● Create a budget. It’s easy to overspend. Make a list and decide how much you want to spend on Black Friday. Be a disciplined consumer. Don’t pay more than what you have budgeted to spend.
Betty Lin-Fisher of USA TODAY contributed to this report.