Boycott where?
If you logged onto social media this Black Friday, you might have been just as confused as I was. For weeks, talk of boycotts and economic restraint (with the exception of Black/POC owned, or small businesses) dominated conversations I witnessed on social media, particularly among Black consumers who vowed to hold onto their dollars amid rising costs and economic strain. But come Friday morning, my same feed was flooded with haul videos, discount affiliate codes, and celebratory posts about snagging the great deals.
Now was I one of those shoppers? Well, that’s really none of your business is it (lol)? But if you’re like me, and were caught up in those numbers you’re not alone.
According to Adobe Analytics, online shoppers in the U.S. spent a record $11.8 billion on Black Friday, marking a 9.1% increase from the previous year. That growth came despite (or perhaps because of) the economic uncertainty that’s been squeezing household budgets for months.
And the more I thought about it, the more it made sense. When everyday life becomes unaffordable (you walk outside and it’s literally expensive to breathe), people don’t stop shopping, and instead get strategic about how they can continue to do so, but just at a reasonable cost. Black Friday’s surge was most definitely a recession indicator of what’s going to continue to come, especially as we get closer to the holidays and people are looking to provide for their families. When groceries, gas, and basic necessities are straining budgets, shoppers wait for rock-bottom prices to stock up on what they need and splurge on what they want. These deals become less about luxury and more about survival shopping with a side of sanity-saving retail therapy.
Retailers pulled out all the stops this year. Electronics, toys, furniture, and appliances all saw major markdowns designed to meet consumers at their point of desperation. Over half of those sales happened on mobile, meaning folks were bargain-hunting from the couch, the kitchen, the car… everywhere. And the use of “buy now, pay later” services also grew 8.9% from last year, which is another telling sign that people are stretching dollars they don’t quite have yet.
Even AI had something to do with it as traffic to retail sites from generative AI shopping tools rose by over 800%, as consumers deployed every possible advantage to find the best prices. The desperation for deals was real, and the technology made it easier to chase them down.
For Black shoppers specifically, the cognitive dissonance was palpable. The same community that called for economic boycotts and collective financial discipline showed up in force, posting their wins and comparing their scores. Unfortunately it’s just our economic reality. When inflation has picked up in recent months, sitting a full percentage point above the Federal Reserve’s 2% target, and hiring has slowed enough to raise fears of stagflation, you grab the deals when you can get them.
Cyber Monday is projected to surpass Black Friday with an estimated $14.2 billion in sales, proving this spending surge will continue its momentum. If this is how Black Friday looked, imagine what the next six weeks are about to be (boycott talk be damned).