How Much Money Is Spent on Black Friday? (2013–2024)
With holiday sales in the United States rising year after year, it’s clear that the potential for businesses to generate revenue during this period is immense. In fact, the winter holidays ranked as the second busiest shopping period of 2024, with consumers spending an average of $902 per person over the entire season.
As one of the biggest retail sales days of the year, Black Friday, which falls during the winter holidays, is one event that brands should prioritize. To understand how businesses can benefit from marketing their stores for Black Friday, we need to first look at how much money is spent on Black Friday and the latest Black Friday sales figures.
Key Black Friday sales numbers
- Black Friday spending in 2024 is projected to reach a record $10.8 billion, a 9.9% increase from the previous year.
- Cyber Monday remains the biggest shopping event of the season, with projected sales of $13.2 billion in 2024, surpassing Black Friday and Thanksgiving spending.
- In 2024, 71% of surveyed consumers plan to shop online on Black Friday, emphasizing the growing importance of ecommerce during the holiday season.
Black Friday sales report
|
Year |
Black Friday spending |
|
2013 |
$1.93 billion |
|
2014 |
$2.40 billion |
|
2015 |
$2.70 billion |
|
2016 |
$3.34 billion |
|
2017 |
$5.03 billion |
|
2018 |
$6.20 billion |
|
2019 |
$7.40 billion |
|
2020 |
$9.00 billion |
|
2021 |
$8.90 billion |
|
2022 |
$9.12 billion |
|
2023 |
$9.80 billion |
|
2024 |
$10.80 billion |
Black Friday spending: 2013–2023
Recent statistics on Black Friday spending show that total online sales rose annually from 2013 to 2020. In 2013, overall online sales on Black Friday were recorded at $1.9 billion. By 2020, this had surged to $9 billion, marking an average annual growth rate of approximately 25% and increasing by nearly fivefold in seven years.
The biggest annual increase during this period came in 2017, when Black Friday spending grew by 50.6%, from $3.3 billion to $5 billion. Even the smallest yearly increase, which took place in 2015, registered a double-digit growth rate of 12.5%.
In 2021, Black Friday spending fell for the first time in at least eight years, which analysts attributed to the COVID-19 pandemic and logistical challenges. That year, consumers spent $8.9 billion online on Black Friday, a $100 million decline from 2020. However, Black Friday statistics indicate a quick rebound in 2022, with spending rising to $9.1 billion. In 2023, Black Friday spending continued to grow, reaching $9.8 billion.
Black Friday sales numbers: 2024
The latest Black Friday sales report for 2024 shows that expenditure for this shopping holiday is forecast to hit a record $10.8 billion. As in previous years, Black Friday spending in 2024 is projected to surpass total Thanksgiving spending, which is forecast at $6.1 billion. It will also continue to fall short of the projected $13.2 billion expected on Cyber Monday, which experts anticipate will remain the season’s biggest shopping event. That said, the expected annual increase of 9.9% in Black Friday spending this year is projected to outpace that of Thanksgiving and Cyber Monday, with projected growth rates of 8.7% and 6.1%, respectively.
This year, 71% of surveyed consumers plan to shop online on Black Friday, highlighting the growing shift toward ecommerce. Shoppers can also expect the steepest discounts of the season on TVs, making it a prime day for electronics deals.