Black Friday continues to reign as the biggest day of the year for U.S. retail foot traffic, even as the dynamics of holiday shopping evolve. Retailers across the nation leveraged enticing giveaways and steep discounts to attract bargain-seeking shoppers.
Evolving Black Friday Trends
The traditional frenzy surrounding Black Friday has subdued in recent years due to early deals throughout November, Cyber Monday promotions, and the rise of online shopping. However, physical stores still saw crowds as they tried to recapture consumer interest through exclusive offerings and in-store experiences.
At Target, dedicated fans lined up as early as 11:30 p.m. on Thanksgiving to snag exclusive Taylor Swift merchandise. Although the products were slated for online availability later, many locations sold out quickly, underscoring the pull of limited-edition items.
Shopper Insights
Many consumers are more strategic with their purchases this year, influenced by lingering inflationary concerns and shifting shopping habits. Marge Evans, a Southfield, Michigan resident, filled her cart with Black Friday deals but admitted she was preparing for an upcoming cruise, rather than Christmas. “The real deals come after the holidays,” she noted.
At Walmart in Germantown, Maryland, foot traffic was noticeably lighter compared to pre-pandemic Black Fridays. Bharatharaj Moruejsan, a shopper who recently returned from India, took advantage of a $250 iPad deal, marking a significant 32% discount from its original price.
Industry Observations
Marshal Cohen, Chief Retail Advisor at Circana, observed that despite some excitement for exclusive products, shopper urgency has diminished. “The holidays have stretched out, removing the need for last-minute shopping sprees,” Cohen remarked.
Michael Brown of Kearney consulting noted that discounts of 40% or higher were key in attracting crowds. While retailers like Forever 21 offered up to 70% off and saw lines forming, those with lower discounts, such as H&M at 30%, struggled to draw shoppers.
Black Friday’s Continued Dominance
Despite evolving habits, Black Friday remains the busiest day for retail foot traffic in the U.S., according to Sensormatic Solutions. Iconic stores like Macy’s in Manhattan showcased deals such as 60% off luxury bedding and half-off special occasion dresses, drawing steady crowds.
Keressa Clark, visiting New York with her daughter, expressed surprise at the number of deals still available in-store. “I thought most things were online now,” said her daughter Morghan, echoing the sentiment of many younger shoppers.
Online Shopping Records
Online sales on Thanksgiving Day hit a record $6.1 billion, marking an 8.8% increase from last year, according to Adobe Digital Insights. Cyber Monday is expected to feature peak discounts of 30%, with a drop-off to around 15% afterward.
International Expansion
Black Friday is no longer confined to the U.S., as retailers in Canada, Germany, France, and even India participate in the sales event. Amazon faced protests in New Delhi, with warehouse workers and delivery drivers demanding better wages, highlighting the global footprint and challenges of this shopping phenomenon.
A Mixed Outlook
While some malls like the Mall of America reported increased foot traffic, with 13,000 visitors in the first hour, others experienced modest turnout. Analysts remain optimistic about a robust holiday shopping season, albeit slightly weaker than the previous year.
As the holiday season unfolds, retailers will continue their push to entice consumers, balancing in-store experiences with online convenience to capture every opportunity.
Source: Huffpost
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