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Black Friday shopping in stores is 28% lower than pre-pandemic levels

On November 26, 2021, when Black Friday began selling at the Bluegrass outlet shop in Simpsonville, Kentucky, shoppers with bags from various stores lined up.

John Cherry | Reuters

According to preliminary data from Sensormatic Solutions, Black Friday retailer traffic was down 28.3% compared to 2019 levels. This is because Americans have increased their online spending and started shopping earlier in the year.

According to Sensormatic, traffic increased by 47.5% compared to the previous year’s level. This time around 2020, many shoppers were at home due to concerns about the coronavirus pandemic and slightly shorter retailers’ business hours.

Brian Field, Senior Director of Global Retail Consulting at Sensormatic, said: He added that the two main reasons shoppers are spreading holiday purchases are ongoing concerns about Covid and concerns about the supply chain.

According to Sensormatic, the peak hours of shopping at Black Friday stores were from 1:00 pm to 3:00 pm, similar to trends over the past few years. According to Sensormatic, Black Friday is still projected to be the busiest in-store shopping day of the season.

On Thanksgiving Day, Sensormatic found that physical store visits increased by 90.4% from 2019 levels. Retailers such as Target, Walmart, and Best Buy have chosen to keep their customers closed on holidays. Target states that it will be a permanent shift.

According to the field, Black Friday shopper traffic was closest to returning to 2019 levels in the South, followed by the Midwest, followed by the West and Northeast. He does not believe that growing concerns about the new Covid variant, omicron, have affected consumer behavior on the day.

“Once the outbreak begins to be seen in the United States, what I think will push forward. [traffic down] “It would be if the government and the community started the blockade again,” Field said. “Otherwise, I think the trends are very similar to what we expect.”

Black Friday online spending drops from 2020 levels

Online retailers have reached $ 8.9 billion in Black Friday sales, down from the $ 9 billion record spent on Friday after Thanksgiving a year ago, according to data from Adobe Analytics. According to Adobe, this is the first time growth has reversed from the previous year. Adobe has analyzed over 1 trillion visits to retail sites in the United States and has over 100 million items in 18 different product categories.

According to Adobe, on Thanksgiving Day, consumers spent $ 5.1 billion on the Internet, flat from last year’s levels.

The numbers provide even greater evidence that the holiday season has been extended as more Americans started shopping as early as October. Retailers are also spreading promotional offers. According to a survey by the National Retail Federation, a leading retail industry group, 61% of consumers have already started buying holiday gifts before Thanksgiving.

Vivek Pandya, Principal Analyst at Adobe Digital Insights, said:

Adobe forecasts e-commerce sales for Cyber ​​Monday, the largest online shopping day of the year, to be between $ 10.2 billion and $ 11.3 billion.

However, as supply chain complexity reduces the inventory levels of some companies, shoppers can expect a variety of merchandise to be out of stock.

According to Adobe, out-of-stock messages on retailer websites have increased by 124% until Friday compared to pre-pandemic levels. According to Adobe, home appliances, electronics, housekeeping supplies, household items, and gardening items have the highest out-of-stock rates.

Black Friday shopping in stores is 28% lower than pre-pandemic levels

Source link Black Friday shopping in stores is 28% lower than pre-pandemic levels

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