Reasons to Read

Uncover which retailers won and lost on Black Friday 2025—and why operational execution made all the difference.

Read this report to discover answers to these and other questions:

• How did Black Friday 2025 promotions differ from past years, and which retailers moved away from traditional “doorbusters”?
• Which retailers drew the strongest in-store traffic, and how did wait times and shopper flow compare across banners?
• What role did inventory availability play in conversion, and which retailers maintained fully stocked shelves?
• How did omnichannel and in-store technology enhance service and efficiency during peak hours?
• In what ways did stores act as fulfillment hubs, and which retailers excelled at BOPIS and other pickup services?

Companies mentioned in this report include: Abercrombie & Fitch, Adidas, American Eagle Outfitters, Aritzia, Bath & Body Works, Best Buy, Burlington, Crocs, Dick’s Sporting Goods, Gap, Home Depot, Kohl’s, Lululemon Athletica, Macy’s, Nordstrom, PacSun, Pandora, Ralph Lauren, Sephora, Skechers, Target, TJX Companies, Ulta Beauty, Uniqlo, Unsubscribed, Urban Outfitters, Vans, Walmart and Zara.

Data in this report include: depth and breadth of in-store promotions; product availability and inventory levels; shopper traffic and wait times; store environment, customer service and merchandising; use of omnichannel fulfillment and in-store technology.

Other relevant research: 

• Holiday 2025: Holiday 2025: US Consumer Survey and Retail Outlook—From Social to Smart: AI Becomes the New Driver of Holiday Discovery and Value
• All our coverage of US holiday retail, including our Holiday Bites series of infographics