Black Friday is about to become a victim of the retail apocalypse

Black Friday is dying in the age of Amazon. 

"I think the traditionalists will have a hard time stomaching that," Josh Elman, a consumer and retail analyst with Nasdaq Advisory Services, told Business Insider. "But I think at the end of the day ... the whole idea and concept of Black Friday deals in store will diminish over time."

He continued: "Ultimately, consumers really want convenience and they want to get their item and get out of the store quickly. They don't want to wait in long lines, they don't want to wait for a store to open anymore."

According to National Retail Federation data, 99 million people said they shopped in stores on Thanksgiving weekend last year — a drop of three million from the year before. According to Elman, the number of people hustling to the stores for deals is only going to fall further this year. 

Meanwhile, 108 million people shopped online on Thanksgiving weekend in 2016 — a five million increase from the year before. 

Beyond the shift to e-commerce over in-store purchases, Elman says that people are getting used to deals all year round. Retailers have trained shoppers to only buy items on sale, according to experts. 

In other words, there's no longer a single day — the day after Thanksgiving, or November 24 this year — that retailers all offer incredible deals. These deals are spread out throughout the holiday season and the rest of the year. And, they now appear both online and in stores. 

"The whole idea of Black Friday and Cyber Monday ... is becoming less relevant as the consumer is generally accustomed to great deals, or at least getting a deal," Elman said. "While it still is very important in the grand scheme of things, I do think retailers have been adjusting."

Black Friday still helps to officially kick off a crucial period for retailers. But, Elman says, the holiday season start date is inching earlier and earlier, as companies desperate to survive the "retail apocalypse" look for an edge. 

Things like offering Black Friday-esque sales before Thanksgiving can help retailers boost business compared to rivals. But, it also dilutes the importance of Black Friday as a single day for destination shopping. 

"It's a little sad. But it's just a sign of the times," Elman said. "It's really the paradigm shift that's occurring. I think retailers understand what's transpiring, and ultimately are doing everything in their power to meet customers' needs."

RELATED: 10 stores that will be closed for Thanksgiving 2016

36 PHOTOS
Stores that will be closed for Thanksgiving, Black Friday 2017
See Gallery
Stores that will be closed for Thanksgiving, Black Friday 2017

REI

-Closed on Thanksgiving & Black Friday

(Photo by Robert Alexander/Getty Images)

Costco 

-Closed on Thanksgiving

Crate & Barrel

-Closed on Thanksgiving

Home Depot

-Closed on Thanksgiving

IKEA

-Closed on Thanksgiving

Marshalls 

-Closed on Thanksgiving

Lowe's

-Closed on Thanksgiving

Cabela's

-Closed on Thanksgiving

Neiman Marcus

-Closed on Thanksgiving

Petco

-Closed on Thanksgiving

TJ Maxx

-Closed on Thanksgiving

A.C. Moore

-Closed on Thanksgiving

ABT Electronics

-Closed on Thanksgiving

BJ's Wholesale Club

-Closed on Thanksgiving

Burlington Coat Factory

-Closed on Thanksgiving

Cost Plus World Market

-Closed on Thanksgiving

DSW

-Closed on Thanksgiving

Guitar Center

-Closed on Thanksgiving

H&M

-Closed on Thanksgiving

HomeGoods

-Closed on Thanksgiving

Apple

-Closed on Thanksgiving

Half Price Books 

-Closed on Thanksgiving

(Photo by Darren Hauck/Getty Images)

Hobby Lobby

-Closed on Thanksgiving

(Getty)

Jo-Ann Stores

-Closed on Thanksgiving

(Getty)

Nordstrom

-Closed on Thanksgiving

(REUTERS/Rick Wilking)

Nordstrom Rack

-Closed on Thanksgiving

(REUTERS/Brendan McDermid)

Office Depot 

-Closed on Thanksgiving

(REUTERS/Mike Blake)

OfficeMax 

-Closed on Thanksgiving

(Getty)

Pier 1 Imports

-Closed on Thanksgiving

(Luke Sharrett/Bloomberg via Getty Images)

Jos. A. Bank 

-Closed on Thanksgiving

(Photo by Andrew Burton/Getty Images)

P.C. Richard & Son

-Closed on Thanksgiving

(Photo by Jb Reed/Bloomberg via Getty Images)

Party City 

-Closed on Thanksgiving

Patagonia

-Closed on Thanksgiving

(Photo by Robert Alexander/Getty Images)

Publix 

-Closed on Thanksgiving

(Getty)

West Marine

-Closed on Thanksgiving

(Photo by John Patriquin/Portland Press Herald via Getty Images)

HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

NOW WATCH: Target now sells $5 wines — here's how it compares to Trader Joe's cheap wines

See Also:

SEE ALSO: Walmart is betting its future on walking into customers' houses when they aren't home

Read Full Story

Markets

NASDAQ 6,936.58 80.06 1.17%
S&P 500 2,675.81 23.80 0.90%
DJIA 24,651.74 143.08 0.58%
NIKKEI 225 22,553.22 -141.23 -0.62%
HANG SENG 28,848.11 -318.27 -1.09%
DAX 13,103.56 35.48 0.27%
USD (per EUR) 1.17 0.00 -0.21%
USD (per CHF) 0.99 0.00 0.20%
JPY (per USD) 112.57 0.19 0.17%
GBP (per USD) 1.33 -0.01 -0.82%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.