Black Friday is Over: What Went Wrong, What Went Right, and How to Win the Rest of the Holidays

Black Friday 2024 is in the rearview mirror, and the results are in. While some retailers made bold moves that paid off, others struggled with familiar issues like stockouts, misaligned promotions, and consumer fatigue. As we gear up for the final stretch of the holiday shopping season, let’s analyze the wins, the losses, and how to pivot for success.

What Went Right: The Wins Worth Celebrating

1. Online Sales Are King

Black Friday sales reached an impressive $9.8 billion, up 3.4% from last year, with over two-thirds of purchases happening online. Mobile continued its dominance, accounting for nearly 44% of all transactions, underscoring the critical importance of optimizing mobile and e-commerce platforms. Retailers with smooth, fast, and intuitive digital experiences came out ahead.

2. Discounts Drove Sales

Strategic discounts—not random markdowns—drew in shoppers. Retailers offering competitive deals across high-demand categories like electronics, toys, and home goods captured significant attention. Shoppers expected deep discounts, but brands that balanced enticing deals with profitability fared best.

What Went Wrong: The Hard Truths

1. Foot Traffic Faltered

Despite the buzz, foot traffic dropped by 3–10% compared to last year, as consumers increasingly favored the convenience of online shopping. Many cited concerns about expected stockouts as a reason to avoid in-store crowds. Shoppers want assurance that what they’re looking for will be available; failing to meet these expectations damages trust and drives customers to competitors.

2. Stockouts and Overstock Hurt Retailers

The inventory imbalance was glaring this year:

• 33% of shoppers** reported being unable to find the items they wanted due to stockouts.
• Overstocks of less popular products tied up capital, forcing deeper discounts post-Black Friday.

To make matters worse, stockouts not only frustrated consumers but actively deterred them from shopping in-store, with many saying, “It’s not worth the hassle.”

3. Generic Discounts Fell Flat

Discounts were everywhere, but shoppers expected more than just percentage-off promotions. Retailers who failed to align deals with customer expectations—whether on popular products, bundles, or exclusive offers—saw lower returns. Success came from data-driven discount strategies, not blanket offers.

4. Missed Personalization Opportunities

77% of consumers say personalized recommendations make them more likely to purchase, yet many retailers failed to tailor their promotions. Shoppers are savvy and expect relevant, targeted discounts—not one-size-fits-all emails.

How to Pivot for the Rest of the Holiday Season

There’s still time to recover, re-engage, and maximize your holiday sales. Here’s how to win:

1. Cater to Last-Minute Shoppers

With 50% of holiday spending occurring after December 1, procrastinators represent a massive opportunity. Focus on delivering convenience and urgency:

• Offer express shipping and curbside pickup.
• Promote gift cards as a no-fail option.
• Use countdown messaging: “Order by [date] for Christmas delivery!”

2. Optimize Mobile and Online Experiences

Since two-thirds of Black Friday sales happen online, a frictionless digital experience is essential. Ensure your site is fast, mobile-friendly, and intuitive. Test the checkout process for hiccups, and emphasize features like guest checkout and clear shipping timelines to minimize abandoned carts.

3. Turn Data Into Action

Analyze your Black Friday data to fine-tune the rest of your holiday strategy.

• Retarget customers with personalized offers based on their browsing or purchase history.
• Promote items that resonated during Black Friday to amplify demand.
• Plan real-time adjustments to your inventory to meet shifting trends.

 4. Highlight Discounts with Purpose

Discounts work best when they’re tied to value. Instead of blanket discounts, consider:

• Bundling products to drive perceived savings.
• Exclusive discounts for loyalty program members or VIP customers.
• Flash deals to drive urgency and excitement.

5. Lean Into Post-Holiday Sales

Post-holiday shopping is an opportunity to clear inventory, but it requires a thoughtful approach. Use optimized discount strategies to ensure you’re maintaining margins while enticing customers. While post-holiday sales remain popular, focus on key dates and products rather than widespread liquidation.

The Bottom Line

Black Friday 2024 highlighted the continuing shift toward online shopping and the importance of targeted, strategic promotions. While challenges like stockouts, misaligned discounts, and declining in-store traffic hurt some retailers, the remainder of the holiday season provides an opportunity to pivot and thrive.

By focusing on real-time inventory rebalancing, personalized promotions, and seamless online experiences, you can win over shoppers and finish the year strong.

Now is the time to act. Don’t let the lessons of Black Friday go to waste—pivot, optimize, and dominate the rest of the season!