As per Future Market Insights (FMI), 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$ 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.

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.

For more: https://www.futuremarketinsights.com/reports/black-friday-sale-market