Business
‘To sustain the ride, they started to dilute it’: How Black Friday became a retail letdown
Black Friday early morning shoppers rush in as the doors are opened at a Walmart store in Fairfax, Virginia, Nov. 28, 2008.
Gerald Martineau | The Washington Post | Getty Images
Black Friday has long been defined by massive crowds, rock-bottom prices and rabid consumers willing to bite, scratch and claw their way to the best deals of the season. But these days, retail’s biggest holiday looks a bit different.
Stores are opening their doors later, foot traffic is flat, online shopping is up and, in a world where Black Friday begins in September, consumers are wary, unsure if the deals they’re getting are even that good.
“The integrity of the event is pretty much gone,” said Mark Cohen, former CEO of Sears Canada, who spent a decade as the director of retail studies at Columbia Business School. “Back in the day, a Black Friday price was the best you could ever find on something … never to be seen again. In today’s day and age, promotional pricing just gets better and better from a consumer’s point of view the closer you get to the holiday.”
A line forms for the 4 a.m. Black Friday opening at Kohl’s department store in Pleasanton, California, Nov. 27, 2009.
Michael Macor | San Francisco Chronicle | Hearst Newspapers | Getty Images
While Black Friday remains a critical day for many retailers and is still arguably the most popular shopping day of the year, it’s no longer defined by the in-person experience. Millions of shoppers are expected to visit malls, big-box stores and specialty retailers on Friday, but millions more are expected to stay at home and shop online from their phones and computers.
That means a shift in strategy for retailers that have long gone all in on Black Friday, including Walmart, Target and Macy’s. Some, such as Kohl’s, are launching their holiday sales earlier in the season. Others, such as Walmart, are spacing out promotions in separate events — one in mid-November, another over the holiday weekend and a final, one-day event on Cyber Monday. Many others plan to stay closed on Thanksgiving but will still have deals online during the holiday.
“I still recall queuing up outside stores waiting for those special deals that every retailer would advertise,” said Denish Shah, the department chair and professor of marketing at Georgia State University’s Robinson College of Business. “Whereas now it goes over weeks, over multiple days, and most of the time the consumers are doing it from the comfort of their home through online sales.”
For the last six years, more people shopped online on Black Friday than in-store, and foot traffic has been relatively flat following a post-Covid spike, according to data from the National Retail Federation and Placer.ai, an analytics firm that uses anonymized data from mobile devices to estimate overall visits to locations.
Since 2021, Black Friday store visits have consistently been more than 50% higher than the daily average for the full year, but the amount of foot traffic stores are getting on the day after Thanksgiving isn’t really growing, data from Placer.ai shows.
From 2023 to 2025, the number of millennials and Generation X consumers planning to make the majority of their purchases on Black Friday has dropped. It’s largely flat for Gen Z and baby boomer shoppers over that time period, according to data from the Bank of America Institute.
Meanwhile, the amount of money people are spending during the so-called Turkey 5 – the period of shopping days spanning Thanksgiving to Cyber Monday – has declined for two straight years, according to the NRF. Between 2019 and 2024, spending fell nearly 13%.
That decline is expected to continue this year, with consumers planning to spend 4% less on average during the Turkey 5, according to a recent Deloitte survey.
“There is still going to be a day of highlights from retailers, whether it is door busters, … certain additional promotions, etc.,” said Tiffany Yeh, a managing director and partner with Boston Consulting Group’s consumer practice. “But it is more muted.”
How Black Friday lost its edge
When the modern-day version of Black Friday became popularized in the 1980s, it took an entire year of planning to pull off, Cohen said.
“The art was to convince a vendor to give you an enormous discount on cost so that you could create this tremendously compelling offer to the consumer that would then … benefit you for the balance of the holiday season,” he recalled. “But it required an enormous amount of work.”
Retailers had to pick the perfect product, set the perfect price and make sure their competitors didn’t get wind of their promotional plans. Then, they had to make sure they ordered enough inventory to sell out, but not so early that it would cause riots.
Black Friday shoppers pour in to a Best Buy store in Los Angeles at 5 a.m. on Nov. 28, 2008.
Jewel Samad | AFP | Getty Images
But over time, as Black Friday became more popular, retailers began extending the shopping holiday so their biggest sales tailwind of the year could last longer than a single day. First, stores opened earlier Friday morning, then they began opening on Thanksgiving, and then, promotions began the day before. When consumers began expecting discounts on more than a handful of products, promotions were spread to items in every department.
“In other words,” Cohen said, “to sustain the ride, they started to dilute it.”
As discounts spread across the store, the operational feat behind inventory and staffing became even more challenging to manage, leading retailers to spread out promotions even earlier, Yeh said.
“It’s always been a tough one to really staff up labor so significantly for a short period of time,” she said. “If it’s only for a day, people are not going to necessarily want to sign up for that, versus, if it’s for a longer season, then you’re more likely to get the necessary team members and also be able to train them.”
At the same time, consumer habits began to shift in the backdrop.
Are Black Friday deals still worth it?
Online shopping had been on a slow and steady rise for 20 years, but during the Covid-19 pandemic, adoption skyrocketed. Now, retailers don’t need to put on as big of an in-person show on Black Friday, because online sales are increasingly outpacing those in stores.
Stretching Black Friday into a seasonlong event also makes it easier for consumers to spread out their own spending, Shah said.
“November and December are two different pay periods for many consumers,” he said. “It makes a difference if they can spread their spending across two pay periods rather than just one.”
Of course, there’s also debate about how good the discounts actually are on Black Friday, especially in a soft economy where retailers are leaning heavily on promotions to drive sales at the same time they’re raising prices to offset tariffs.
People crowd the first floor of Macy’s department store in New York as they open for Black Friday sales at midnight on Nov. 23, 2012.
Stan Honda | AFP | Getty Images
“Rampant discounting” across the industry — before, during and after the holiday shopping season — has left many consumers feeling “skeptical” about promotions overall, said Sonia Lapinsky, the head of consulting firm AlixPartners’ global fashion practice. Some promotions this holiday season could also be disguising price increases, notching the cost back down to what it was before the ticket price was raised, said Lapinsky.
“They’ve had the power to cross-shop and look for these discounts, and now there’s just this lack of trust,” Lapinsky said. “They’re tired of doing that, and there’s a lack of trust that they’re actually getting the value piece of it.”
For example, brands like Gap, Levi Strauss and Under Armour started their Black Friday sales on Thanksgiving, and the promotions were comparable to those offered earlier in the season.
“The whole idea of creating urgency is kind of goofy and gone,” Cohen said. “Like so many headlines that purportedly offer a deal, the deal is something of a scam.”
NEW DELHI: People with job cards assigned under Mahatma Gandhi National Rural Guarantee Scheme will be able to get work without disruption when transition takes place to new rural employment framework under Viksit Bharat-Guarantee for Rozgar and Aajeevika Mission (Gramin) Act.Even though exact timeframe is not known yet, rural development ministry officials said the VB-G RAM G scheme will come into force in the coming financial year after the Centre frames and notifies the rules. After govt notifies the Act’s commencement date, states will get six months to make their schemes to enable implementation of the law.To ensure there is no disruption and job guarantee is upheld during transition from MGNREGA, it has been proposed to enable workers to use the same job cards issued under MGNREGA with Aadhaar-based eKYC.The officials said that as of now, around 75% of job cards have been verified with eKYC under the ongoing scheme. Moreover, ongoing projects under MGNREGA, if incomplete when the transition happens to the new scheme, would stay on course.Meanwhile, work is on to frame rules, lay out regulations on normative allocations, fund flow plan, IT framework, a national-level steering panel and social audits.Under the new law, focus will be on transparency to weed out leakages and duplicacy of work,the social audit system will be strengthened, and technology leveraged to create systems to establish work progress, timely wage payment and accountability through ‘e-measurement’ books, sources said. Demand for work will have to be entered on a digital platform. Officials made it clear the new law in no way interferes with demand-driven character of the scheme.
Business
Gurugram Attracts Rs 86,588 Crore In Real Estate Investments In 2025 As RERA Clears 131 Projects
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Alongside rising investments, Gurugram RERA strengthened regulatory oversight to safeguard homebuyer and investor interests
Gurgaon Real Estate (Representative Image)
Gurugram emerged as one of India’s top real estate investment destinations in 2025, with projects worth Rs 86,588 crore receiving regulatory approvals during the year, according to data from the Gurugram Real Estate Regulatory Authority (Gurugram RERA).
Market observers said the numbers reflect strong investor confidence in the NCR’s largest commercial and residential hub.
Gurugram RERA registered 131 projects in calendar year 2025, representing development potential of 35,455 units across housing and commercial segments.
A striking feature of the data was the dominance of large-ticket projects. Just 28 major developments accounted for investments worth Rs 59,360 crore, highlighting the growing influence of institutional capital and large developers in shaping Gurugram’s property market.
Residential assets continued to attract the bulk of investment interest. Of the total units approved, 31,455 were residential, underscoring sustained end-user demand and long-term confidence in the city’s housing fundamentals.
According to Authority data, the residential mix included 17,405 group housing units, 5,720 mixed land use units, 4,040 residential floor units, 2,122 affordable group housing units, 1,954 units under the Deen Dayal housing scheme, and 214 residential plotted colony units.
Market observers said this diversified supply pipeline indicates capital deployment across both premium and mass segments, helping reduce concentration risk and deepen market resilience.
On the commercial side, Gurugram RERA approved about 4,000 commercial units, of which 168 were dedicated to IT parks, reinforcing Gurugram’s position as a preferred hub for technology firms and Global Capability Centres.
Analysts noted that the combination of office-led employment growth and residential expansion continues to make Gurugram attractive for long-term capital deployment.
Industry experts said the scale of investments approved in 2025 highlights Gurugram’s ability to attract capital despite global uncertainty, supported by infrastructure growth, a strong corporate base and an improving regulatory environment.
“With a large pipeline of approved projects and sustained interest from developers and institutional investors, Gurugram is expected to remain a key real estate investment destination in the coming years,” a Gurugram-based real estate expert said.
Tighter regulatory checks
Alongside rising investments, Gurugram RERA strengthened regulatory oversight to enhance transparency and safeguard homebuyer and investor interests.
“These steps included stricter scrutiny of developer submissions, mandatory site inspections by domain experts, and public consultation through mandatory notices before project registration,” an Authority official said.
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January 16, 2026, 07:44 IST
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National Startup Day highlights India’s thriving startup ecosystem, celebrating innovation, entrepreneurship and job creation driven by founders, unicorns and Startup India mission
National Startup Day 2026 honours Indian startups, entrepreneurs and innovators driving economic growth and job creation.
National Startup Day 2026: India’s startup ecosystem has evolved into one of the world’s most vibrant and promising innovation hubs. To recognise the contribution of entrepreneurs, founders and startups transforming ideas into impactful solutions, National Startup Day is observed every year on January 16 across the country.
Launched by Prime Minister Narendra Modi in 2022, the day celebrates visionary entrepreneurs who play a crucial role in economic growth, employment generation and technological advancement.
National Startup Day serves as a reminder that innovation, backed by determination and policy support, can reshape society and create global impact.
National Startup Day 2026 Theme
The official theme for National Startup Day 2026 is yet to be announced. However, the core focus areas are expected to revolve around:
- Innovation and emerging technologies
- Entrepreneurship and leadership
- Self-reliance (Atmanirbhar Bharat)
- Startup India Mission
- Youth empowerment
- Job creation
How Startups Are Shaping India’s Future
India currently ranks as the third-largest startup ecosystem globally, with over 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as of early 2025. Backed by 100+ unicorns, the ecosystem continues to grow rapidly.
Metro cities such as Bengaluru, Hyderabad, Mumbai and Delhi-NCR lead this expansion, while Tier-2 and Tier-3 cities are emerging as new innovation centres, adding diversity and scale to India’s entrepreneurial journey.
Startups across fintech, edtech, health-tech, e-commerce and deep-tech are addressing real-world challenges and gaining global recognition. Technologies like artificial intelligence, blockchain and IoT are increasingly driving innovation, according to Startup India ecosystem reports.
Industry-Wise Startup Impact
DPIIT-recognised startups have generated over 16.6 lakh direct jobs across sectors as of October 31, 2024, strengthening India’s employment landscape.
- IT Services: 2.04 lakh jobs
- Healthcare & Life Sciences: 1.47 lakh jobs
- Commercial & Professional Services: 94,000 jobs
Through the Startup India initiative, the government continues to focus on skill development, funding access, ecosystem collaboration and global outreach.
Key Initiatives Under Startup India
- Capacity building and mentorship
- Outreach and awareness programmes
- Ecosystem development events
- International exposure and global linkages
- Collaboration between startups, corporates and institutions.
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January 16, 2026, 07:00 IST
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