US companies are reducing discounts or completely canceling Black Friday sales due to tariffs imposed by US President Donald Trump on countries that supply raw materials for their goods, Bloomberg reported.
“We don't see the financial benefit of offering discounts because the prices of our products are high due to the tariffs“, said Dan Pescors, head of Upstream Brands, quoted by the agency. The company sells products on the Amazon marketplace made in countries against which Trump has imposed tariffs. For example, the price of a copper kitchen utensil for separating flowers from their stems has increased by more than 50% in a year due to tariffs on copper.
A company that sells electric massagers and other wellness equipment has raised prices for its products by 5-7% and has begun moving production out of China again because of the tariffs. According to the CEO, the brand simply cannot afford the same discounts as last year.
Companies risk losing customers by reducing discounts and canceling promotions. According to a study conducted by consulting firm PricewaterhouseCoopers, consumers plan to spend an average of 5% less in stores during the 2025 holiday season than they did last year. Among young people aged 17 to 28, this figure reaches 23%.
„Black Friday“ is traditionally the Friday after Thanksgiving in the US, which opens the Christmas shopping season. It is usually between November 23 and 29. Initially, the „Black Friday“ promotional campaign was held mainly in physical stores and lasted only until the end of the weekend - Over the years, and especially after the coronavirus pandemic, it moved online.