The Evolving Landscape of Black Friday: A Shopper's Dilemma

Black Friday faces an unusual paradox with expected record foot traffic, but declining consumer willingness to spend. Retailers, challenged by inflation and weak job growth, target selective shoppers with affordable luxury items. Meanwhile, AI plays a pivotal role in consumers' price comparison and deal-hunting strategies.

Retailers are bracing for Black Friday, this year's edition unfolding against a backdrop of restrained consumer spending despite expectations of record foot traffic. This paradox is attributed to economic pressures like inflation, which have diluted the day's traditional shopping fervor.

Economic indicators suggest a challenging path for retailers, who rely heavily on the holiday season for profitability. Survey data shows a decline in average consumer spending, fueled by rising costs and trade policies affecting retail prices. As a result, businesses are shifting their focus to attracting selective shoppers with smaller luxury items.

Artificial intelligence is increasingly aiding consumers in their quest for value deals. A significant portion of shoppers is using AI for price comparison, budgeting, and sourcing gift ideas. While online shopping has extended Black Friday promotions, the essence of the day has evolved into a symbolic event, rather than a singular shopping blitz.

(With inputs from agencies.)