As the 2024 holiday shopping season and Black Friday sales begin, society is entering a new era driven by artificial intelligence and greater consumer choice amidst the overall backdrop of continuing inflation concerns. While more and more stores aren’t going to be open overnight on Thanksgiving, the Black Friday annual sales are more alive than ever before. But it’s not just a single day, as virtually every Amazon shopper can attest.
“Black Friday and other discounting events are becoming longer, and the trend will likely continue,” said Chiranjeev Kohli, chair and professor of marketing at Cal State Fullerton’s College of Business and Economics. “The internet and AI are making it easier to find deals throughout the year, so retailers have to strive harder to make their deals effective. This pattern can be seen in both physical and digital storefronts.”
In an era of AI, consumers can more easily search for deals, comparing opportunities at their favorite brick-and-mortar retailer across town with online sellers a continent away. In some ways, this may be more work for the consumer since it involves more research. But in this era of high prices, it might be justified, especially for expensive big-ticket items, explained Kohli.
“Consumers are feeling the pinch and looking for good deals to make ends meet,” he said. “And there are other trends, such as environmental consciousness, but that may take a backseat to getting the lowest prices. Retailers and marketers are also doing their best to make the shopping experience more pleasant by offering financing and in-store pickup and combining the physical storefront with online shopping.”
Read more about the holiday shopping season outlook in CSUF Business News.