Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

Black Friday shopping in stores drops 28% from pre-pandemic levels as Americans stay home

by
November 27, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Outdoor cooking boomed during the pandemic, and the grilling industry thinks it will stay hot

These Americans all left the U.S. for Mexico: How they found their ‘perfect location’ and made it happen

Shoppers with bags from various stores stand next to each other as Black Friday sales begin at The Outlet Shoppes of the Bluegrass in Simpsonville, Kentucky, November 26, 2021.

Jon Cherry | Reuters

Traffic at retail stores on Black Friday dropped 28.3% compared with 2019 levels, as Americans shifted more of their spending online and kicked off their shopping earlier in the year, according to preliminary data from Sensormatic Solutions.

Traffic was up 47.5% compared with year-ago levels, Sensormatic said. This time in 2020, many shoppers stayed at home due to fears around the coronavirus pandemic and as retailers operated on somewhat reduced hours.

“It’s clear shoppers are shopping earlier this season, just as they did last season,” said Brian Field, senior director of global retail consulting at Sensormatic. He added that the two main reasons shoppers are spreading out their holiday purchases are ongoing concerns about Covid and worries about the supply chain.

The peak time for Black Friday shopping in stores was 1 p.m. to 3 p.m., similar to trends in past years, Sensormatic said. Black Friday is still predicted to be the busiest in-store shopping day of the season, according to Sensormatic.

On Thanksgiving day, visits to brick-and-mortar stores cratered 90.4% from 2019 levels, Sensormatic found. Retailers including Target, Walmart and Best Buy opted to keep their doors closed to customers on the holiday. Target has said it will be a permanent shift.

Field said that shopper traffic on Black Friday was closest to returning to 2019 levels in the South, followed by the Midwest and then the West and Northeast. He doesn’t believe mounting fears around the new Covid variant, omicron, had any impact on consumers’ behavior on the day.

“If you start seeing outbreaks in the U.S., the thing that I think would drive [traffic down] would be if governments and communities start locking down again,” Field said. “Otherwise, I think the trends will be very similar to what we expect them to be.”

Online, retailers rang up $8.9 billion in sales on Black Friday, down from the record of about $9 billion spent on the Friday after Thanksgiving a year earlier, according to data from Adobe Analytics. It marked the first time ever that growth reversed from the prior year, Adobe said. Adobe analyzes more than one trillion visits to U.S. retail sites, with over 100 million items in 18 different product categories.

On Thanksgiving day, consumers spent $5.1 billion on the internet, flat from year-ago levels, Adobe said.

The numbers provide even greater evidence that the holiday season has been stretched out as more Americans began their shopping as early as October. Retailers have been spreading out their promotional offers, too. According to a survey from the National Retail Federation, the retail industry’s leading trade group, 61% of consumers had already started purchasing holiday gifts before Thanksgiving.

“Shoppers are being strategic in their gift shopping, buying much earlier in the season and being flexible about when they shop to make sure they get the best deals,” said Vivek Pandya, a lead analyst at Adobe Digital Insights.

Adobe is forecasting e-commerce sales on Cyber Monday, the biggest online shopping day of the year, to be in between $10.2 billion and $11.3 billion.

Shoppers can expect to find a variety of items out of stock, however, as supply chain complications have snarled inventory levels for some companies.

According to Adobe, out-of-stock messages on retailers’ websites are up 124% through Friday versus pre-pandemic levels. Appliances, electronics, housekeeping supplies and home and garden items have the largest stock-out rates, Adobe said.

ShareTweetPin

Related Posts

Outdoor cooking boomed during the pandemic, and the grilling industry thinks it will stay hot

by
July 2, 2022
0

In this article WEBR COOK People have been eating and cooking more meals outdoors since the pandemic began, a trend...

These Americans all left the U.S. for Mexico: How they found their ‘perfect location’ and made it happen

by
July 2, 2022
0

In 2006, after years of living paycheck to paycheck in California, I decided to move to Mexico. I was 50,...

‘How quickly the tables have turned’: Falling mortgage rates have homebuyers so emboldened they’re asking sellers for cash

by
July 2, 2022
0

Associated Press Russia's messages with missiles tell West to back off The latest in a litany of horrors in Ukraine...

Yields Are Above 8%. It’s Time to Get Excited About Income Investing.

by
July 2, 2022
0

Income-oriented investors, it’s time to celebrate. There are suddenly many more opportunities—in areas ranging from junk bonds to real estate...

Schedule for Week of July 3, 2022

by
July 2, 2022
0

by Calculated Risk on 7/02/2022 08:11:00 AM The key report scheduled for this week is the June employment report to...

Next Post

Real Estate Newsletter Articles this Week

Former GE CEO Jeff Immelt Bought Up Shares of Cloud Firm Twilio

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net