Circana Unpacked
#143 - Black Friday Week Sales: Naughty or Nice?
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Show notes
Traditionally in the U.S., the day after Thanksgiving is Black Friday, which moves holiday shopping into high gear. While doorbusters have dwindled, brands and retailers work to lure shoppers with deals and experiences that set the tone for holiday sales. Circana’s Joe Derochowski, vice president and industry advisor, home and home improvement, and Ben Arnold, executive director, industry analyst, consumer technology, weigh in on Black Friday week results and discuss how their industries can claw back holiday sales.
Highlights:
- While not as bad as 2022, sales of home goods and consumer electronics were still down. The upside, gains were made compared to earlier periods of 2023.
- Different ways to shop and research is changing Black Friday traffic and extending Black Friday sales beyond a single day.
- Consumer electronics, once was a key category that brought shoppers out on Black Friday, now has to work for a share of household spend.
- Innovation is needed to reenergize the market and give consumers the new products and experiences they’re looking for.