The expected chaos on the high street nosedived, as shopper traffic saw 4.05% lower from a year ago, according to retail experts FootFall. “It’s no longer about one day, but a season of digital deals, and savvy online shoppers are ready to see what exclusive promotions retailers have in store for Cyber Monday before they checkout”, NRF President and CEO Matthew Shay said. The trade group said it changed the methodology this year of its annual, so figures could not be compared fairly with last year’s results. About 74 million Americans reportedly shopped at a physical retail location on Friday.
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Adobe has predicted that around $1.73 billion will be spent on Thanksgiving Day, which is a year-over-year (YoY) increase of 25 percent, while around $2.72 billion will be spent on Black Friday, which is a 14 percent improvement from spending figures in recorded in 2014.
But online shopping, especially on mobile phones, surged as more retailers offered the same promotions online, often before items became available in stores and shoppers relished the joy of grabbing a deal while lounging at home. “It is clear that the age-old holiday tradition of heading out to stores with family and friends is now equally matched in the new tradition of looking online for holiday savings opportunities”, he said. Amazon began publicizing discounts a full week in advance, and retailers like Wal-Mart and Best Buy are among a host of outlets who opened their doors on Thanksgiving Day.
“Fewer visits on both days reinforce the trend we’ve seen throughout the year, in which shoppers are researching products ahead of time, targeting their store visits, and arriving in-store with the intention of making a purchase”, added Kearns. That has pushed spending forward into the early weeks of November; the earlier opening times on Thanksgiving also pulled sales from Black Friday.
“I personally skip Black Friday just to shop Cyber Monday”, said Mark Flores, a parks and recreation director from Lynwood, California.
According to a National Retail Federation (NRF) survey, the number of online shoppers edged out brick-and-mortar traffic during the four-day weekend.
Wesbury believes the slow but steadily expanding job market, along with a modestly growing national economy, could bolster holiday shopping this year.
Overall weekend shopping increased compared to last year’s 136 million, who in a mid-November NRF survey said they planned to shop over the weekend. In the larger picture, consumer spending appears relatively stable. “As the shopping environment changes, so too must our analysis of it”.
The NRF found that 133.7 million people shopped during the holiday past year.
But in 2014, the average person who shopped spent $380.95 compared to $407.02 a year earlier in 2013.
More than half of gift purchasers bought clothing, 32.8 percent bought toys, and 32.8 percent bought consumer electronics.
“While more than 90 percent of shopping purchases are made in-store, shoppers’ use of mobile devices to research before and assist them during their shopping trips is now standard practice”, said John Dee, Chief Operating Officer of PlaceWise Media.
Diluted consumer spending isn’t necessarily a slam-dunk for retailers, however. Last year, it reported sales of $12.29 billion for the same period.
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Warrington was no exception with many shops in the town reporting a surge in sales. He also noted that numerous retail executives he had spoken with were very pleased with the weekend’s performance.
