The winter holidayshopping periodis officially underway with Black Friday, and it ramps up even more with Cyber Monday.
Still, the National Retail Federation notes the holiday shopping window runs from Nov. 1 through Dec. 31, and many of its forecasts are based on that span. This year, spending for the holidays is projected to rise to record amounts. The NRF anticipates average spending of $902 per person on decorations, presents and food in 2024 — a $25 increase per person from last year.
“The winter holidays remain a cherished time for Americans, and families are prioritizing spending this season,” said Katherine Cullen, NRF Vice President of Industry and Consumer Insights. “Even with a tighter period between Thanksgiving and Christmas, retailers are prepared to serve shoppers by offering earlier promotions and ensuring inventory for the most sought-after items this year.”
Although many consumers are ready to spend, they still hunt for bargains. So, when comparing Cyber Monday vs. Black Friday, which should you wait for? Below we discuss that and tips to maximize both shopping events.
More From Savinly:The Dumbest Things We Keep Spending Too Much Money On (And How to Stop)
Cyber Monday vs. Black Friday
Great bargains are plentiful this season, but which day offers the better deals — Black Friday or Cyber Monday?
What Is Black Friday?
Black Friday — the day after Thanksgiving — used to be seen as the unofficial kickoff to the holiday shopping rush.
Retailers would roll out steep discounts on items like TVs, electronics, appliances and other merchandise to lure customers into stores.
Some retailers opened in the early hours of Friday, sometimes as early as midnight. Shoppers willing to camp out in long lines hoped tograb steep markdowns.
Often supplies were limited, so only the earliest arrivals scored the best bargains.
The excitement of the event was part of the appeal, but online shopping has gradually eroded Black Friday’s dominance.
What Is Cyber Monday?
As online shopping grew, e-commerce sellers wanted a piece of the Black Friday excitement and introduced Cyber Monday promotions to draw in online buyers.
They recognized that many people would be back at work and at computers on Monday, so offering online deals the Monday after Thanksgiving was a logical move.
How Retailers Are Adapting to Changes in Holiday Shopping Behavior
The NRF says retailers realize shoppers are beginning their holiday purchases earlier than ever, which is why seasonal items often appeared alongside Halloween merchandise.
Both physical stores and online sellers started rolling out Black Friday-style discounts weeks before the actual day. The NRF reports that for the 2024 season, 57% of shoppers plan to do at least some shopping online, 45% intend toshop at discount retailers, 46% say they’ll visit department stores, and 46% will shop at grocery stores and supermarkets.
Retailers are preparing for the surge, however shoppers choose to buy. The NRF expects employers to hire roughly500,000 seasonal workers.
How to Prepare for Black Friday and Cyber Monday Sales
Here are some ways to streamline your shopping and potentially save money or earn rewards.
- Make a list: (And double-check it). Knowing what you intend to buy helps you stay focused whether you shop in person or online.
- Know sale dates: If you delay, that hot item might sell out. If there’s something you want, check the retailer’s site to see if it’s available now. Many stores offer price matching if an item later drops in price.
- Follow stores on social media and subscribe to their emails: Retailers sometimes reserve exclusive promotions or coupon codes for followers and subscribers.
- Join a store’s membership program: Some retailers provide special savings or early access to members of their loyalty programs. Return policies can also differ for members. Some programs carry a fee, so weigh whether the perks justify the cost.
Related:Here’s How to Start Saving Money — Even If You Don’t Have Room in Your Budget
Ready To Shop? Get the Most Out of the Holiday Shopping Deals
Many major retailers have already launched promotions. Below is a summary of some key offerings.
Amazon
Like many merchants, Amazon runs an extended event to give shoppers plenty of time to buy. Its Black Friday event runs through Nov. 29, 2024.
Deals will continue through the season, and shoppers can now use the popular payment app Venmo to complete purchases.
Best Buy
Best Buy began its Black Friday promotions on Nov. 21, 2024, and released additional doorbuster deals on Nov. 22, with another round expected on Nov. 29. Big-ticket items likely to be featured include a Samsung 75-inch smart TV and the MacBook Air 13” M2.
Kohl’s
Kohl’s launched its early Black Friday access event on Nov. 8-10.
The retailer will also hold a six-day Black Friday Week of deals starting Nov. 24, plus special online Thanksgiving offers and both in-store and online bargains on Black Friday. Stores will remain closed on Thanksgiving Day.
Regarding returns, Kohl’s accepts most returns up to 180 days after purchase, with some exceptions for certain products.
Target
Target has kicked off discounts with Early Black Friday Deals and a deal of the day. Its Black Friday promotions run through Nov. 30, 2024.
These deals are available in-store, online and through the Target app. While Target advertises these as its best seasonal prices, it also offers a price match guarantee.
Walmart
Walmart started the holiday shopping season earlier than usual in 2024. Beginning Oct. 8, Walmart.com and app users got early access to Holiday Deals and had six days to shop for top items before the general public. Its Black Friday deals extend through Dec. 1.
Walmart’s return policy allows most items bought in-store or online between Oct. 1, 2024, and Dec. 31, 2024, to be returned through Jan. 31, 2025. Exceptions include luxury goods, precious metals, AppleCare, wireless phones and Walmart protection plans.
More from Savinly:
- Best Budget Apps for Couples in 2024
- 31 Ways to Make Money Online & From Home in 2024
- 5 Strategies to Consolidate Your Credit Card Debt
Jordan Matthews is a Florida-based freelance reporter with more than 25 years of experience covering finance, health, travel and other subjects.
Alex Reed is a personal finance enthusiast and money-conscious writer who enjoys producing content about saving and earning. His work has also appeared on The Smart Wallet, FinanceBuzz, Yahoo! Finance, JoyWallet, GoBankingRates.com and The Money Manual.
