What you need to know about Black Friday this year

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• Black Friday is November 24 this year.
• Retailers will begin to offer steep discounts on Black Friday, and some have already begun to do so.
• Many will also provide free shipping to customers who shop online.

The holiday shopping season begins in earnest on Black Friday, November 24, and continues through much of December. Businesses are beginning to reveal their Black Friday hours and discounts, giving us a sense of the trends that will define this holiday shopping season.

Online sales continue to consume a larger portion of Black Friday spending (they totaled $3.34 billion last year), and for the first time, consumers are expected to spend more online this holiday season than in-store. A recent Deloitte survey found that shoppers plan on making 51% of their holiday purchases online and 42% in stores. As a result, retailers will be focused on optimizing the online shopping experience.

Here's what you need to know to prepare yourself for Black Friday this year.

When is Black Friday?

Black Friday falls on the day after Thanksgiving, which is November 24 this year. Technically, it begins at midnight, but some retailers begin their Black Friday hours on Thanksgiving. Kohl's is expected to begin offering Black Friday deals online at 12:01 a.m. CT on Monday, November 20, and will open its stores at 5 p.m. on Thanksgiving Day, November 24. Macy's stores will also be open starting at 5 p.m. on Thanksgiving, and its Black Friday sales are expected to begin at the same time.

Other retailers have taken a stand against operating on Thanksgiving, including H&M, IKEA, and Marshalls.

What kinds of discounts will stores be offering?

Sales are ubiquitous on Black Friday, and this year will be no different. Sears is now offering 10%-50% discounts through Thanksgiving weekend, while Kmart will offer 10%-40% discounts in the same time frame.

Black Friday may also be the best time to buy an iPhone X. While Apple is not expected to lower the phone's price, retailers like Walmart, Best Buy, Target, Amazon, and eBay are expected to offer deals on the phone.

In addition, many retailers, including Target and Walmart, will be offering free shipping throughout the holiday season

What items should I be looking for on Black Friday?

If you're a parent, you should be looking for Fingerlings, which are set to dominate the holiday toy market this year. Though they tend to sell out quickly, retailers will be sure to restock them frequently throughout the holidays.