This year’s Black Week may turn out to be a record-breaking one in Poland. Current data already show a clear rise in retail sales, retailers are not waiting until Friday to launch discounts, and the peak shopping season now stretches across the entire week — or even the entire month. Increasingly, people speak not of Black Friday but of Black Month. Although promotions attract huge numbers of customers, they also represent a serious test for consumers and the broader economy. Poland is experiencing a strong demand impulse, but economists will be closely watching data from the United States, China and the Eurozone. Black Friday is no longer just a shopping holiday — it has become a key indicator of consumer sentiment, inflationary pressures and real purchasing power.
Black Friday 2024 delivered record sales figures. Globally, consumers spent a total of $74.4 billion, 5% more than the previous year and more than double the amount spent in 2017. That’s eleven times the stock-market valuation of Zalando — illustrating the sheer economic power of this day.
In the United States alone, online sales reached $10.8 billion, a 10.2% year-on-year increase. Between 10 a.m. and 2 p.m., Americans were spending an average of $11.3 million per minute. Another trend worth noting is the growing popularity of “buy now, pay later” services. The total value of these transactions rose by 8.8% to $686 million. This signals that more consumers either prefer not to pay upfront or are increasingly reliant on flexible financing options.
Although Black Friday is now a global phenomenon, consumer sentiment differs considerably by region. In the U.S., shoppers remain enthusiastic. Retail sales have stayed strong throughout the year and were up 5% in August compared with the previous year. Poland posted even better results, with retail sales rising 6.6% year-on-year. This suggests that consumer spending during Black Friday could reach record levels in Poland.
The situation is very different in the Eurozone and China. Both economies are experiencing consumption stagnation. Retail sales growth is slowing steadily. In the Eurozone, it reached only 1% in September, while in China it performed slightly better at 2.9%. This year’s holiday season will be an important test of consumer sentiment. However, a genuine turnaround would require a strong shift — promotions alone may not be enough to reignite consumer demand in Europe.
Black Friday has long since moved primarily online. Those who benefit most are companies with strong platform ecosystems or robust infrastructure. Amazon, Alibaba, Shopify, eBay and Etsy remain the clear leaders. Traditional retailers use the day to clear inventory and fight for market share. But the quiet winners are companies operating in the background — logistics and payment firms. More orders mean more parcels and more transaction fees. UPS, PayPal, Visa and Mastercard are names worth watching. Advertising spending also jumps sharply in November as brands fight for reach and visibility, which benefits Meta, Alphabet, Snap and Pinterest.
Black Friday has also fully embedded itself in the fashion and luxury sectors. Nike, Adidas, H&M, LPP and Inditex embrace promotions, while some premium brands avoid them deliberately to protect their image. For many companies, this is also the moment to clear out old collections and make room for new ones.
While the numbers are impressive, what matters even more is whether consumption will hold up in the coming months. Investors should look beyond short-term spikes and resist getting carried away by seasonal excitement. What counts is not just sales from a single day, but the long-term trajectory. A strong Black Friday can reinforce confidence in consumer, technology and payments companies. Weak results, on the other hand, may signal that investors should reposition their portfolios toward more defensive assets — companies that offer stable cash flows and greater security.
